The presentation of the book «The Islamic Development Bank and Dr. Ahmad Mohammad Ali. History of an Institution and a Journey of a President»

On 6th July, 2023, the presentation of the book «The Islamic Development Bank and Dr. Ahmad Mohammad Ali. History of an Institution and a Journey of a President», presented to the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov by the first president of the Islamic Development Bank Ahmad Mohammad Ali Al-Madani was held at the Institute of International relations under MFA of Turkmenistan. The ceremony was attended by the heads and representatives of the Ministry of foreign affairs of Turkmenistan, the Agency for transport and communications under the Cabinet of Ministers of Turkmenistan, the State Bank for foreign economic affairs of Turkmenistan, a number of ministries, state agencies, academic staff and students of higher educational institutions of the country, as well as heads and employees of diplomatic missions of foreign states, representative offices of international and regional organizations, including banking and financial structures accredited in Turkmenistan.

In the speeches of the participants attention was focused on the history of the Islamic Development Bank, its present day activities, whereas detailed information was given on the development of the partnership of this financial institution with member countries, including Turkmenistan.

Along with other sectors of the country, at a round table held as part of the event, the “Turkmendenizderyayollary” agency also spoke about cooperation with the Islamic Development Bank in the field of maritime transport and projects that are planned to be implemented in the future. In particular, within the framework of the project for the development of the maritime transport system of Turkmenistan, on February 5, 2022, an “Agency Agreement” was concluded between Turkmenistan and the Islamic Development Bank in order to finance part of the cost of building 2 “Ro-Ro” vessels and 1 dry cargo ship. In addition to financing shipbuilding by the Islamic Development Bank, the agreement provides for the provision of gratuitous assistance (grant) for the modernization and expansion of the capabilities of the Turkmenbashi International Seaport. In this regard, on October 6, 2022, the Agreement “Technical Assistance Grant” was signed between the Government of Turkmenistan and the Islamic Development Bank. The grant project includes improving the management of terminals and the efficient use of the Turkmenbashi International Seaport, the development of new laws and regulations based on international experience in managing the port system, as well as the implementation of other related activities.

It should be noted that the agency "Turkmendenizderyayollary" and the Islamic Development Bank have been cooperating for many years. An example of this is the loan agreement that was signed on July 3, 2009 with the Islamic Development Bank to finance the purchase of two ships carrying oil and oil products. In accordance with the agreed loan agreement, ships for the transportation of oil and oil products “Sumbar” and “Khazar”, which are equipped with modern technologies, were purchased and put into operation. Currently, these vessels carry out international transportation in the Caspian region.

During the presentation ceremony of the book “Islamic Development Bank and Dr. Ahmad Mohammad Ali. The history of the institute and the path of its President” “Turkmendenizderyayollary”  agency presented with an exhibition stand at an exhibition dedicated to joint projects and cooperation between Turkmenistan and the Islamic Development Bank.