Islamic Development Bank establishes $91 million agreements with Tajikistan, Togo

The Islamic Development Bank signed two developments financing agreements worth $91 million (USD) with Tajikistan and Togo during the World Bank and International Monetary Fund (IMF) annual meetings in Lima, Peru, Oct. 13.

The first agreement, totaling $70 million (USD), was established between Tajikistan Minister of Finance Abdusalom K. Kurboniyon and IDB Group President Dr. Ahmad Mohamed Ali. It will finance a power-grid network to connect Central and South Asian nations.

Using sustainable electricity, the project will benefit Kyrgyzstan, Tajikistan, Afghanistan and Pakistan and is aligned with the economical integration plan between Tajikistan and Kyrgyzstan, boosting foreign investments in both countries.

Worth $21 million (USD), the second agreement with the government of Togo will finance the building of the 60-kilometer Tchamba – Sadori road, which will connect Togo to Burkina Faso.