By Trend
A meeting with representatives of the private sector development
corporation of the Islamic Development Bank (IDB) was held at the
Ashgabat headquarters of the Union of Industrialists and
Entrepreneurs of Turkmenistan (UIET), the UIET said in a
message.
An exchange of views took place on defining potential areas for
the IDB’s cooperation with the UIET and the Turkmen Joint-Stock
Commercial Bank Rysgal, in particular in terms of the
implementation of investment projects.
The meeting participants stressed the importance of a memorandum
of understanding between the government of Turkmenistan and the IDB
on intensifying cooperation on participation in the financing of
promising development projects signed during the official visit of
Turkmen President Gurbanguly Berdimuhamedov to Saudi Arabia in May
2016, the message said.
It was noted at the meeting that Turkmen entrepreneurs make
significant contribution to the socio-economic development of
Turkmenistan, increasing the export potential of the country, and
that they are entrusted with the implementation of important
projects in various fields.
In November 2017, it became known that the IDB allocated $273
million to expand the telecommunications network in
Turkmenistan.
Besides, the IDB issued a loan for Turkmenistan in 2016 to
finance the construction of the
Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. An
agreement worth $700 million was signed with the State Bank for
Foreign Economic Affairs of Turkmenistan.
In June 2015, it was reported that Turkmenistan and IDB are
discussing the possibilities for the bank’s participation in
financing eight projects that are envisaged for implementation in
the transport and communications sector and for supporting small
and medium-sized businesses.
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