Turkmenistan, Ashgabat, Oct.20 / Trend H. Hasanov /
Turkmenistan has signed with the Islamic Development Bank (IDB) a number of agreements as a result of a two-day International Investment Forum held in Ashgabat.
In particular, a Memorandum of Understanding was signed between the State Bank for Foreign Economic Affairs of Turkmenistan and the Islamic Corporation for Private Sector Development, the IDB Group's member.
Also agreements were concluded between the Government of Turkmenistan and the IDB on the project of construction and equipment of the dental center in Ashgabat. These documents are aimed at strengthening international cooperation in the investment sphere of the country.
The headquarters of the IDB (Islamic Development Bank), the international financial organization founded in 1973 by the member states of the Organization of Islamic Conference, is located in Jeddah (Saudi Arabia).
About 60 states are the current members of the bank.
IDB directly finances Turkmen economy with both own funds and participation of co-financers by establishment of consortiums. The projects are large-scale and need huge financial funds. IDB considers projects in transport, telecommunications and fuel and energy sector particularly attractive in Turkmenistan.