Islamic Development Bank signs $156.3 million financing agreement with Turkmenistan

The Islamic Development Bank and the Republic of Turkmenistan today signed a $156.3 million financing agreement to build 3 modern healthcare facilities specializing in cancer treatment in the country in the Balkanabat, Turkmenabat and Mary regions, which will provide advanced oncology services to 11,750 patients, on the sidelines of the ongoing 2024 Annual Meetings of the International Monetary Fund and the World Bank in Washington, USA.

The financing agreement was signed by Dr. Mohammed Al-Jasser, President of the Islamic Development Bank, and Rahimbardi Jebreev, President of the State Bank for Foreign Economic Affairs.

The two sides discussed in their bilateral discussions the ongoing deep cooperation and agreed to continue joint efforts within the framework of the Islamic Development Bank Member Countries Partnership Strategy Document (2024-2027), and exchanged views on the technical assistance program in green energy, infrastructure and private sector participation projects.

It is noteworthy that the Islamic Development Bank has contributed significantly to financing development in Turkmenistan in various sectors, especially energy, health care, information and communications technology, transportation and trade. In addition, the Islamic Development Bank Group has supported major projects in Turkmenistan that enhance regional connectivity and boost the country’s export potential, including the railway project, the gas pipeline, and the communications network enhancement project.