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28-10-2014, 15:29

President Rahmon Meets IDB Head on Cooperation

Avesta.Tj | 28.10.2014 | Tajik President Emomali Rahmon met here on Monday with visiting President of Islamic Development Bank (IDB) Ahmad Mohamed Ali on the sidelines of the 1st Investment Forum on the Organization for Islamic Cooperation (OIC) program of action for cooperation with Central Asia.


According to the Tajik presidential press service, at the meeting the sides discussed issues related to state and prospects of further expansion bilateral cooperation between Tajikistan and the IDB.


The IDB provided concessional project loans and technical assistance to Tajikistan amounting to more than $210 million for investment projects in social and economic spheres, the presidential press service said.

"Several projects, worth of145 million U.S. dollars, are being implemented currently by IDB in spheres of energy, transport, water, health and education”, President Ramon stressed.


For his part, the IDB president said that the bank is ready to finance such regional projects as CASA-1000, the construction of Tajikistan-Afghanistan-Turkmenistan railway.

On the same day, Emomali Rahmon held talks with Iyad bin Ameen Madani, the Secretary-General of the Organization of the Islamic Cooperation (OIC), and Turki bin Saud al-Kabir, Deputy Foreign Minister of Saudi Arabia.

The Islamic Development Bank (IDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC, now the Organization of Islamic Cooperation), convened December 18, 1973.  The bank officially began its activities on October 20, 1975.


The present membership of the Bank consists of 56 countries. The basic condition for membership is that the prospective member country should be a member of the Organization of Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors.