The Islamic Development Bank Group, the AAA-rated multilateral islamic development bank, decided to provide $1.2 billion in support funding for the financial recovery to its members.
For this purpose, IsDB Group entities and counterpart institutions in member countries in Africa and Asia signed around 30 MoUs and agreements during the Group’s 2021 annual meetings in Uzbekistan.
IsDB announced the launch of the Economic Empowerment Fund for Uzbekistan with the collaboration of the host country. It will support a $100 million fund of which $20 million has been kept to create 100,000 jobs by supporting micro, small, and medium-sized enterprises (MSMEs).
Source: Business Post