IsDB Grants Loans to Central Asia Economic Bloc

The Islamic Development Bank has granted loans to Central Asian regional bloc Economic Cooperation Organization to boost its implementation of critical infrastructure projects, the Iran Daily reports. The total loan grant was undisclosed, but the report cited that part of the IsDB funds would be used for a railroad expansion project in Turkmenistan, where officials intend to increase the train’s transit capacity by doubling coaches to 400 in the next six months. 

About the author

  • Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.