IDB signs financing agreements for US $91 million with Tajikistan and Togo

Lima, Peru, 09.11.2015 – On the margin of the World Bank and International Monetary Fund (IMF) annual meetings in Lima, Peru, the Islamic Development Bank (IDB) signed two development financing agreements with Tajikistan and Togo totaling US $91 million.

The US $70 million agreement signed between IDB Group President, Dr. Ahmad Mohamed Ali and Tajikistan’s Minister of Finance, HE Abdusalom K. Kurboniyon contributes towards financing a power grid network project connecting the Central and South Asian nations (CASA-1000). The project aims to provide sustainable electricity flow between Kyrgyzstan, Tajikistan, Afghanistan and Pakistan in line with their regional economic integration framework. It is based on the sale of the surplus of the
hydropower generated in Tajikistan and Kyrgyzstan which is expected to impact the foreign currency income of both countries.

The US $21 million agreement signed between IDB Group President and HE Ayassor Adji Oteth, Minister of Economy and Finance and IDB Governor for Togo, will contribute to financing the construction of Tchamba – Sadori road, a vital 60 kilometer link connecting Togo to Burkina Faso.