The Islamic Development Bank (IsDB) has signed a $156.3 million-financing agreement with Turkmenistan, the Saudi Press Agency (SPA) reported.
The financing aims basically to support the construction of three state-of-the-art cancer treatment facilities in Balkanabat, Turkmenabat, and Mary Region.
Upon the construction, the facilities will provide advanced oncology services to approximately 11,750 patients.
The deal was part of the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).
It was signed by IsDB Group Chairman Dr. Mohammed Al Jasser and Chairman of the State Bank of Foreign Economic Affairs of Turkmenistan Rahimberdy Jepbarov.
Interestingly, both officials held bilateral discussions focused on the ongoing deep cooperation and the technical assistance programme in green energy, infrastructure and private sector participation projects.
Moreover, they agreed to intensify the joint efforts within the framework of the IsDB Member Countries Partnership Strategy Document (2024-2027).
In signing this agreement, the IsDB is intensifying its pivotal role in financing development in Turkmenistan across various sectors. Such sectors include energy, health care, information and communications technology, transportation and trade.
Meanwhile, the bank has supported major projects in Turkmenistan fostering regional connectivity and boosting the country’s export potential. For example, it has financed the railway, gas pipeline, and communications network enhancement projects.
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