Turkmenistan, Ashgabat, June 3 / Trend , G.Hasanov/
The Islamic Development Bank (IDB) and the Asian Development Bank (ADB) have signed a memorandum of establishment of a joint fund $500 million, an official source reported.
The signing ceremony was held at the ongoing summit of IDB managers in the President-hotel in the Turkmen capital. Under the agreement, the two regional banks with a ratio equal to provide funding for a number of investment projects in infrastructure in more than a dozen Asian countries.
Asian Development Bank was established in 1966 to stimulate economic development in Asia and the Middle East. One of the most prominent projects in the region of ADB is supporting a project to build a gas pipeline Turkmenistan-Afghanistan-Pakistan-India. ADB financed the preparation of pipeline's feasibility study
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