OREANDA-NEWS. On February 13, 2008 the President of Uzbekistan Islam Karimov has signed the Decree "On measures of implementing the project of "Building and equipping public schools of Republic of Uzbekistan" with the participation of the OPEC Fund for International Development and the Saudi Fund for Development", reported the Official website www.mf.uz.

The project provides financing of constructing and equipping over 25 public schools in Uzbekistan for over 7900 student places.

The soft loans provided by OPEC Fund for International Development for 5 million of US dollars and Saudi Fund for Development, equivalent to 16 million US dollars for the duration of 25 years with the preferential interest rate, and prove the strengthening financial and economic cooperation between Republic Uzbekistan and the Islamic country-donors in the framework of Coordination group of the Arab national and regional institutes of development (Arab Coordination Group). Islamic Development Bank, the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, and the Abu Dhabi Fund for Development are members of Arab Coordination Group.

The program of cooperation with members of the Arab Coordination Group, coordinated at joint session in Tashkent in July, 2007, provides implementation of 17 priority investment projects for total amount of about 800 million US dollars in such priority areas, as development of public health services, education, energy, transport and municipal infrastructure, improving the condition of soil in agriculture, and other fields.