The Islamic Development Bank (IsDB) and Turkmenistan signed a landmark agreement to finance the construction of three state-of-the-art cancer treatment facilities in the country for US$156.3 million.

The financing agreement was signed in Washington by Rahimberdi Djepbarov, Chairman of the State Bank for Foreign Economic Affairs (IsDB Governor for Turkmenistan), and IDB President Mohammed Al Jasser.

The total cost of the project is US$259 million. The project will build three state-of-the-art hospitals in Balkanabat, Turkmenabat and Mary provinces to provide advanced cancer services to 11,750 patients.

The signing took place on the sidelines of the 2024 International Monetary Fund and World Bank Annual Meetings in Washington, USA.

During the discussions, the parties reviewed in more detail the ongoing deep cooperation and agreed to continue joint efforts within the framework of the document "Partnership Strategy for the IDB Member Countries" for 2024-2027, according to a press release of the bank.

They also exchanged views on the technical assistance program for green energy and infrastructure projects, further interaction with the private sector.

The IDB has made significant contributions to financing Turkmenistan’s development in various sectors, mainly in energy, health, ICT, transport and trade.

The IDB Group has mainly supported large projects in Turkmenistan that strengthen regional connectivity and enhance the country’s export potential, including the Bereket-Etrek railway project, the TAPI gas pipeline and the Telecommunications Network Improvement Project.

In June 2024, the Board of Executive Directors of the Islamic Development Bank approved financing for the construction of three cancer hospitals in Turkmenistan.

In September 2024, an IDB delegation led by Mohammed Al Jasser visited Ashgabat and held negotiations at the highest and high levels.

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