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Turkmenistan, Islamic Development Bank to intensify co-op

Turkmenistan Materials 4 May 2016 14:49
The Islamic Development Bank (IDB) signed a memorandum of understanding with Turkmenistan providing for the intensification of cooperation in the field of financing of promising development projects
Turkmenistan, Islamic Development Bank to intensify co-op

Ashgabat, Turkmenistan, May 4

By Huseyn Hasanov- Trend:

The Islamic Development Bank (IDB) signed a memorandum of understanding with Turkmenistan providing for the intensification of cooperation in the field of financing of promising development projects, the newspaper 'Neutral Turkmenistan' reported May 4.

IDB President Ahmed Mohamed Ali Al-Madani and President of Turkmenistan Gurbanguly Berdimuhamedov, who was in Saudi Arabia on an official visit May 1-3, took part in the signing ceremony.

The headquarters of the IDB is an international financial organization, founded in 1973. It is in Jeddah (Saudi Arabia).

"Nowadays, Turkmenistan is one of the fastest developing countries," said the article citing the president of Turkmenistan. "These positive tendencies will be preserved in the future, according to the experts of a number of authoritative international organizations."

The president added that broad opportunities open for intensification of partnership in the field of modernization and diversification of the national economy with a smooth transition from the supply of raw materials to the production and export of finished products.
The program of cooperation of Turkmenistan and the IDB for the years 2016-2018 includes eight projects focused on the development of infrastructure, economy, as well as projects of social purpose.

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