Islamic Corporation for the Development of the Private Sector (ICD)

ICD ready to assist in developing Turkmen private sector

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, signed a Memorandum of Understanding (MOU) with the State Bank for Foreign Economic Affairs of Turkmenistan in Ashgabt, to promote mutual cooperation between ICD and the private sector particularly the small and medium enterprises (SMEs).
The MOU provides a general framework to facilitate cooperation in promoting economic development and emphasize priorities for joint action on accelerating private sector contribution to the country’s GDP especially in the financial, agricultural, logistics, affordable housing, services and manufacturing industries.

ICD signs MoU to promote SEZs

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), the Statistical, Economic & Social Research & Training Center for Islamic Countries (SESRIC) and the Economic Policy Research Foundation of Turkey (TEPAV) signed a memorandum of understanding (MOU) to promote and support the development of Special Economic Zones (SEZs).
Khaled Al-Aboodi, CEO and General Manager of ICD, Dr. Savas Alpay, Director General of SESRIC and Dr. Umit Ozlale, Director of TEPAV, signed the MOU in Istanbul, Turkey, on Oct. 6 on the sidelines of the 26th Session of COMCEC.
The institutions will liaise with one another and would also consider supporting each other through jointly conducting due diligence on specific feasible projects that have been identified for possible cooperation.

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