Ashgabat, 12 May 2016 (nCa) — The willingness of the Islamic Development Bank (IsDB) to put its weight behind TAPI is a major boost for the development agenda of the entire region.
Turkmenistan and IsDB signed two documents during the recent visit of President Berdymuhamedov to Saudi Arabia.
In a ceremony at the IsDB headquarters in Jeddah on 3 May 2016, a broad based memorandum for assistance in eight infrastructure projects in Turkmenistan and a memorandum between IsDB and state concern Turkmengaz on support for TAPI (Turkmenistan-Afghanistan-Pakistan-India gas pipeline project) were inked in the presence of President Berdymuhamedov and IsDB President Ahmed Mohamed Ali Al-Madani.
After ADB, the IsDB is the second international financial institution to provide locomotion steam to TAPI.
IsDB, with its AAA across-the-board rating and a huge team of top notch experts, serves as wind vane for the national financial institutions of a number of countries. Traditionally, the development funds of Saudi Arabia, Qatar, UAE, Kuwait and Bahrain follow the lead of IsDB.
IsDB group has some specialized organs dedicated to the promotion of the private sector. With these, downstream projects along the route of TAPI can be planned to benefit the companies and communities in disadvantaged and isolated areas in Afghanistan.