IDB to provide Turkmenistan with loan
Turkmenistan, Ashgabat, June 27 / Trend H. Hasanov /
Turkmen President Gurbanguly Berdimuhamedov has allowed the Turkmen State Bank for Foreign Economic Affairs to sign an Istisna agreement and agency agreement totaling $121.17 million with the Islamic Development Bank (IDB).
The loan is given for a period of 19 years, taking into account the four-year grace period to finance the project of water supply in the Balkan province.
The headquarters of the Islamic Development Bank (IDB) is an international financial organization, founded in 1973. It is in Jeddah (Saudi Arabia). The current members of the bank are about 60 countries.