The Islamic Development Bank (IsDB) has approved additional financing worth US$ 9.5 million to Tajikistan to support the implementation of the development of the national education of the country, according to statement made by the IsDB on December 10.
The IsDB, in particular, reported that the Board of Executive Directors of the AAA-rated Jeddah-headquartered Islamic Development Bank (IsDB) on December 10 approved US$ 363.6 million to finance new development projects in eleven member countries.
At its 348th meeting held on 10 December, the Board also approved the Bank's Integrated Work Program 2023-2025 and Budget 2023 and the markup rate applicable from January 1, 2023 to June 30, 2023 for OCR Sovereign Projects' Financing.
Chaired by IsDB President, Dr. Muhammad Al Jasser, the Board reportedly reviewed many important reports, including the 14th Report on the COVID-19 Strategic Preparedness and Response Program, the inaugural progress report on the Food Security Response Program, and the Progress Report on the Establishment and Operationalization of the Afghanistan Humanitarian Trust Fund.
It reportedly also discussed the quarterly reports (Q3-2022) on risk management, financial sustainability, liquid funds management, and share capital activities.
Besides the approval of additional financing worth US$ 9.5 million to Tajikistan, the Board also approved other development projects.
Tajikistan joined the Islamic Development Bank on November 27, 1996 and has a capital subscription of ID 18.2 million (0.04% of total IsDB subscribed capital).
