Kyrgyzstan is set to witness significant economic and social infrastructure developments as the Islamic Development Bank prepares a Member Country Partnership Study for the Central Asian nation.
The MCPS will facilitate the design of tangible programs and projects for the Kyrgyz Republic, aligning it with IsDB’s new strategic direction, as reported by the Saudi Press Agency.
This announcement was made during a meeting between IsDB President Mohammad Al-Jasser and Kyrgyz President Sadyr Japarov on the sidelines of the 78th session of the UN General Assembly in New York.
Kyrgyzstan enjoys a long-standing relationship with the Shariah-compliant bank, which works to accelerate economic development and enhance cooperation among its members.
In a statement, the IsDB president said cooperation between the organization and Kyrgyzstan could grow significantly following the last Arab Cooperation Group roundtable meeting, which identified a pipeline of priority projects with a total amount of $1.9 billion.
“Kyrgyzstan’s support for the institution in international meetings, such as the recent GCC-Central Asia Summit in Jeddah, has been exceptional, while the IsDB Group has also been providing significant funding to the country,” Al-Jasser said.
Source : Arab News
