The growth forecast for the region was increased to 4.1 percent in 2021 from a previous projection of 3.6 percent in July and 3.4 percent in April.

The funds will improve the operational structure, corporate governance, and financial management of the country’s electricity transmission company and its subsidiary.

Lenders reported a rise in total net profit by 4 percent year-on-year to 455.2 million manats ($267.8 million) in the period from January to August  2021.

Total income rose by 2 percent year-on-year to 172.7 billion hryvnias, while expenses declined by 7 percent to 127.1 billion hryvnias as of September 1.

The innovation, once it is brought to fruition, is another radical departure from past practice made possible by the advent of President Shavkat Mirziyoyev’s decidedly secular administration.

IsDB has agreed to provide $200 million, while OPEC will allocate $75 million from its Fund for International Development.