Turkmenistan will attract credit funds of the International Islamic Corporation

Turkmenistan will attract, for the implementation of promising projects, credit funds of the International Islamic Corporation. This issue was discussed at a meeting of the country's government via video link.

At the meeting, Deputy Prime Minister for Economics Serdar Berdimuhamedov made a speech with information on practical steps taken in order to successfully solve the problems of investment policy to finance promising projects. In this context, the Deputy Prime Minister appealed to the head of Turkmenistan with a request to obtain permission to attract credit funds from the International Islamic Trade Finance Corporation (ITFC), as well as to sign a Framework Agreement.

Summing up the report, President Gurbanguly Berdimuhamedov noted that one of the aspects of the foreign economic strategy of Turkmenistan is to build up productive interaction with reputable financial organizations. Among the important partners of our country are the Islamic Development Bank and the structures included in its Group, the leader of the nation continued.

The head of state noted with satisfaction that the Islamic Bank was one of the investors in the largest international project - the construction of the North-South transport and communication corridor, as well as the modernization of the country's transport infrastructure, including the creation of telemechanics and communication systems, energy supply of the Ashgabat-Karakum railway - Dashoguz. The package of credit agreements signed with the IDB and its structural divisions is a clear confirmation of the effectiveness of bilateral cooperation.

Having approved the submitted proposal on attracting investments of the International Islamic Corporation for Trade Finance for projects implemented in our country, as well as on the signing of the Framework Agreement, the head of Turkmenistan expressed confidence that this step, being an example of the successful implementation of the investment policy, is intended to contribute to the further development of the national economy.