DUSHANBE, September 19, 2013, Asia-Plus – State and prospects of further expansion of cooperation between Tajikistan and the Islamic Development Bank (IsDB) were discussed here Wednesday (September 18) at a meeting of Mr. Davlatali Saidov, Chairman of the State Committee on Investments and State-owned Property Management (GosKomInvest) with the IsDB delegation, led by Mr. Demba Ba, Director of the Agriculture and Rural Development Department, IsDB.

According to the GosKomInvest press center, the main purpose of the visit is for the IsDB delegation to conduct negotiations with a number of relevant ministries and organizations of Tajikistan to discuss issues related to Tajik government’s priorities in the agrarian sector and ensuring food security.

Saidov reportedly informed the IsDB representatives about the current situation in Tajikistan’s agrarian sector.

Mr. Demba Ba, for his part, noted that the Bank was ready to finance a number of agricultural development projects in Tajikistan.

Saidov noted that the IsDB could participate in projects aimed at promoting development of remote rural areas of Tajikistan and supporting rural entrepreneurship.

The Islamic Development Bank is a multilateral development financing institution located in Jeddah, Saudi Arabia.  It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC, now the Organization of Islamic Cooperation), convened December 18, 1973.  The bank officially began its activities on October 20, 1975.

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.

Tajikistan joined the Islamic Development Bank in December 1996.  The active portfolio of the ISDB in Tajikistan currently consists of 23 projects with a net commitment of around 191.1 million U.S. dollars.