Turkmenistan will participate in increasing the total capital of the Islamic Development Bank (IsDB). The proposal from the IsDB was approved by President of Turkmenistan Serdar Berdimuhamedov during the online cabinet meeting on Friday.
The Head of State said Turkmenistan’s contribution to capital increase of the IsDB will allow for successful cooperation in the large-scale reforms taking place in the country, in particular in the financing of new projects and programs aimed at its socio-economic development, the official media of Turkmenistan reports.
President Serdar Berdimuhamedov also said Turkmenistan, which pursues a foreign policy strategy aimed at developing a broad international cooperation, is always open for mutually beneficial relations with interested parties, including reputable financial institutions.
The IsDB was founded on December 18, 1973, at the first conference of the finance ministers of Organization of Islamic Cooperation. The bank has 57 member-countries.