Credit of Islamic Trade Finance Corporation to be attracted
President of Turkmenistan Gurbanguly Berdimuhamedov allowed the government to attract a loan from the International Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank to ensure the implementation of promising projects within the country, the official Turkmen press writes today.
Also, a framework agreement will be signed between Turkmenistan and ITFC, Deputy Prime Minister Serdar Berdimuhamedov said at a government meeting on Friday.
Earlier, the Islamic Development Bank invested in the construction of the North-South transport and communication corridor, as well as the modernization of the transport infrastructure of Turkmenistan. A substantial package of credit agreements was signed with other structural divisions of the IDB.
ITFC was established in 2008 to develop and expand trade within the Organization of Islamic Cooperation. The headquarters of the organization is located in the city of Jeddah, Saudi Arabia.
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