Saudi Development Fund will allocate the second TAPI project funding tranche
The Saudi Development Fund will transfer the second tranche to finance the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline. The assimilation of the funds, to be used to purchase the necessary equipment and materials for the project, will begin in 2020. In the first half of 2019, the pipes supply successfully completed under the first Funding Agreement concluded in November 2017 between the Government of Turkmenistan represented by the State Bank for Foreign Economic Affairs of Turkmenistan and the Saudi Development Fund. International financial and investment institutions such as the Asian Development Bank and the Islamic Development Bank, various funds, including the Saudi Development Fund, as well as a number of large foreign commercial banks and export insurance agencies, are highly interested in participating in the implementation and funding of this large-scale project of regional importance. At this project implementation stage, financial resources provided by the Islamic Development Bank and the Saudi Development Fund are actively assimilated.
