At the headquarters of the Islamic Development Bank in Saudi Arabia, an agreement was signed to provide Kyrgyzstan with $79 million. The agreement was signed by the first deputy chairman of the Cabinet of Ministers of Kyrgyzstan, Adylbek Kasymaliev.
The funds will be used to “finance affordable housing according to Shariah standards.” Thanks to the implementation of this project, thousands of needy families will receive social housing through the mortgage lending system.
This is not the first joint project between Kyrgyzstan and the bank. The IDB has implemented 27 projects totaling more than $500 million; projects worth more than $200 million are currently at the implementation stage.
In this context, the planned adoption of the document “Partnership Strategy of Kyrgyzstan and the Islamic Development Bank” will not only determine priority areas of cooperation, but will also open up new prospects for the implementation of projects in the transport industry, healthcare, and education.
CentralasianLIGHT.org
April 30, 2024