The regulator’s decision was based on some key factors, including high inflation expectations, an unchanged inflation target of 10 percent.

Plans are expected to create capacities for the production of import-substituting products in the amount of $376 million and the export of goods for $84 million as well as creating 9,000 jobs.

The Central Asian country has been carrying out reforms in its energy sector to modernise ageing infrastructure and implement energy-efficient technologies, as well as to develop clean energy.

The platform is developed with world-class technology and is mobile-friendly. It also serves to fix control gaps that are inherent in any manual process.

IsDB’s $1.2 billion funding will support operations and projects in healthcare, water and sanitation, agriculture, transport, energy, food security, Islamic finance sectors in 10 member countries, including Uzbekistan, which will receive $330 million.