Monday, April 30, 2012 -
The Islamic Development Bank (IDB) has invested $3.34 million in the Central Asian region, the IDB Almaty office director Hisham Taleb Maarouf said on Monday.
While the five countries in the region have all received more than $100 million from the bank, Azerbaijan – a Caucasus country – received the most of states in the larger region, Maarouf said.
“The share of Azerbaijan in the region is 31.4 percent and this is the biggest share amid the Central Asian countries,” Maarouf told the Trend news agency, which is based in the Azeri capital Baku.
Azerbaijan received $1.05 billion in investment, while investments in Kazakhstan outpaced investments in the other four countries, with the Caspian state receiving $695.1 million from the IDB.
The development bank invested $637.6 million in gas-rich Turkmenistan, $589.7 million in Uzbekistan, $212.4 million for impoverished Tajikistan, and $159 million for equally destitute Kyrgyzstan.
The IDB Group includes the Islamic Corporation for Development of the Private Sector (ICD), the Islamic Development Bank, the International Islamic Trade Finance Corporation (ITFC), the Islamic Research and Training Institute (IRTI), and the Islamic Corporation for Insurance and Export Credit (ICIEC).