Saudi Arabia: The Islamic Development Bank has approved a $156.3 million financing agreement to build three state-of-the-art cancer treatment facilities in Turkmenistan.

The Jeddah-based IsDB is a multilateral development finance institution focused on Islamic finance for infrastructure development.

The three facilities in Balkanabat, Turkmenabat and Mary Region will provide advanced oncology services to 11,750 patients, the Saudi Press Agency reported.

The agreement was signed by IsDB Group Chairman Dr. Mohammed Al-Jasser and Chairman of the State Bank of Foreign Economic Affairs of Turkmenistan Rahimberdy Jepbarov, on the sidelines of the 2024 annual meetings of the IMF and World Bank Group.

In Turkmenistan, the IsDB has financed projects in various sectors, including energy, healthcare, information and communications technology, transportation and trade.

The bank has also supported major projects that enhance regional connectivity and boost Turkmenistan’s export potential, such as railways, gas pipelines and communications network enhancement projects.

Last month, Al-Jasser met Turkmenistan’s president, Serdar Berdimuhamedov, in a high-level meeting focused on enhancing longstanding cooperation.

It took place as part of Al-Jasser’s official visit to the country, aimed at discussing projects and exploring new areas of collaboration.