Prospects for expanding cooperation with the Islamic Development Bank discussed

On 20 September 2024, a meeting was held between the Minister of Foreign Affairs of Turkmenistan Rashid Meredov and the President of the Islamic Development Bank (IDB) Muhammad Sulaiman Al Jasser.

During the conversation, the priority areas of long-term cooperation were discussed, including the opportunities for enhancing the longstanding partnership.

It was emphasized that over 30 years of Turkmenistan’s membership in the Bank, the IDB has taken part in financing more than 20 important projects in the country in such areas as healthcare, communications and energy.

During the exchange of views with the head of the financial institution, emphasis was placed on the importance of developing a Partnership Strategy for Turkmenistan. At the same time, it was stated that there are prospects for strengthening effective contacts between the IDB and banks, as well as the private sector of Turkmenistan, primarily in the field of finance-credit and advisory services in the development of medium and small businesses.