Islamic Development Bank Approves $156.3 Million Financing for Cancer Treatment Facilities in Turkmenistan
In a major development, the Islamic Development Bank (IsDB) has given the green light for a $156.3 million financing agreement to construct three cutting-edge cancer treatment facilities in Turkmenistan.
Headquartered in Jeddah, the IsDB is a pivotal multilateral development finance institution that specializes in Islamic finance for bolstering infrastructure development.
State-of-the-Art Oncology Services for 11,750 Patients
These three state-of-the-art facilities, situated in Balkanabat, Turkmenabat, and Mary Region, are set to offer advanced oncology services to a total of 11,750 patients, as per reports from the Saudi Press Agency.
The financing agreement was officially inked by IsDB Group Chairman Dr. Mohammed Al-Jasser and Chairman of the State Bank of Foreign Economic Affairs of Turkmenistan Rahimberdy Jepbarov during the sidelines of the 2024 annual meetings of the IMF and World Bank Group.
Diverse Portfolio of IsDB Projects in Turkmenistan
Turkmenistan has been a focal point for IsDB’s funding initiatives in various sectors, including energy, healthcare, information and communications technology, transportation, and trade.
The bank has also played a pivotal role in supporting major projects aimed at enhancing regional connectivity and bolstering Turkmenistan’s export potential, including railways, gas pipelines, and communications network enhancement projects.
Strengthening Strategic Partnership with Turkmenistan
Notably, in a recent high-level meeting, Al-Jasser engaged with Turkmenistan’s president, Serdar Berdimuhamedov, to discuss ways to further enhance their longstanding cooperation.
This meeting took place as part of Al-Jasser’s official visit to Turkmenistan, with a key focus on deliberating ongoing projects and exploring new avenues for collaboration.
Both leaders reiterated their commitment to deepening the strategic partnership across vital sectors, particularly emphasizing healthcare and infrastructure development.