BAKU, Azerbaijan, May 13. The Islamic Development Bank (IDB) Group plans to allocate more than $450 million for the development of priority sectors of Tajikistan's economy, Trend reports via the Ministry of Economic Development and Trade of Tajikistan.
The agreement was reached following the meeting of the official delegation of Tajikistan led by the Economy Minister Zavqi Zavqizoda and the Chairman of IDB Dr. Muhammad Sulaiman Al Jasser in Saudi Arabian Jeddah, on May 12.
The sides discussed the implementation of various projects in hydropower, transport, education, healthcare, and other sectors of Tajikistan. Following the talks, the president of IDB said the bank was ready to increase financing for these projects.
It was mentioned that IDB provides an amount of $150 million for the construction of the Rogun hydroelectric power plant in Tajikistan. To further increase funding for this project, IDB is working with the Arab Coordination Group and relevant development funds.
Furthermore, the IDB side said that several official delegations of the bank will visit Tajikistan in May, and June in order to develop a new cooperation strategy.
So far, IDB group has implemented investment projects in the amount of $641 million allocated to various sectors of the economy of Tajikistan.