The Islamic Development Bank (IDB) held a large-scale presentation of its activity in Ashgabat, Turkmen national TV channel Altyn Asyr reported.
The IDB delegation arrived in Turkmenistan and met with officials of the ministries, departments, banking institutions in the State Bank for Foreign Economic Affairs of Turkmenistan.
During the presentation it dealt with the IDB activity, its largest departments and special programs, as well as the basic principles and forms of financing.
Moreover, work of the Institute for Research and Training included in the ADB, corporation providing investment insurance and export credit, corporation for private sector development, the International Islamic Trade Finance Corporation was covered.
Representatives of the Islamic Corporation for the development of the private sector discussed the possibility of developing a joint task of the program funding from the IDB to develop small and medium enterprises in Turkmenistan.
IDB was established by OIC member-countries (the Organization of Islamic Conference) in 1973. The main purpose of the bank is financial cooperation to promote socio-economic development of the participants.
"Turkmenistan's cooperation with the IDB is constructive and fruitful. A number of successfully implemented joint projects in such areas as transportation, health, construction, education, and programs aimed at developing the private sector were the result of long-term partnership," the statement said.
One of the last major projects implemented in Turkmenistan with the participation of the IDB, is the construction of the Turkmen section Bereket-Etrek of the transnational rail corridor North-South. In total, this project will significantly reduce the way for Central Asia to enter the markets of the Persian Gulf.
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