DUSHANBE, January 13, 2016, Asia-Plus – The Islamic Development Bank (IDB) will continue providing financial support for rehabilitation of the Kulob-Darvoz road, which is part of the highway connecting Dushanbe and Khorog, the capital of the Gorno Badakhshan Autonomous Region, according to the Ministry of Transport (MoT).
An official source at a MoT says the IsDB working group will arrive in Tajikistan in the near future to get acquainted with the progress of rehabilitation of the Kulob-Shouroobod and Shkev-Qalai Khumb sections of the Kulob-Darvoz road.
The IsDB had earlier provided an US$18.7 million loan to Tajikistan for rehabilitation of the Shagon-Zighar section of the Kulob-Darvoz road.
While in Tajikistan, the IsDB working group will also assess damage caused by a December 7 earthquake to the Gorno Badakhshan Autonomous Region (GBAO) in order to provide assistance, the source said.
We will recall that these issues were discussed during a meeting of Tajik President Emomali Rahmon with the IsDB President Dr. Ahmed Mohamed Ali al-Madani in Jeddah, Saudi Arabia on January 5.
Founded in 1973, the Islamic Development Bank (IsDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia. The present membership of the Bank consists of 56 countries. The basic condition for membership is that the prospective member country should be a member of the Organization of Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IsDB Board of Governors.
Ranked on the basis of paid-up capital (as of August 2015),
major shareholders include: Saudi Arabia (26.57%); Libya (10.66%); Iran (9.32%); Egypt (9.22%); Turkey (8.41%); United Arab Emirates (7.54%); Kuwait (7.11%); Pakistan (3.31%); Algeria (3.31%); and Indonesia (2.93%).
IsDB has evolved into a group of five Entities, consisting of Islamic Development Bank (IsDB), Islamic Research & Training Institute (IRTI), Islamic Corporation for Development of the Private Sector (ICD), Islamic Corporation for Insurance of Investment and Export Credit (ICIEC) and International Islamic Trade Finance Corporation (ITFC).
