ADB, IsDB Ink Financing Pact

The Asian Development Bank and the Islamic Development Bank will each provide as much as USD2 billion in the next three years to back projects in common member countries. Beneficiaries include Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. The accord will cover infrastructure, utilities, urban, education and health projects. (“Asian Development Bank and Islamic Development Bank Sign Landmark USD4 Billion Cofinancing Agreement” - Asian Development Bank, Sept. 16, 2008)