Asian Development Bank and Islamic Development Bank Sign Landmark $4 Billion Cofinancing Agreement

MANILA, PHILIPPINES - The Asian Development Bank (ADB) and the Islamic Development Bank (IsDB) signed today a landmark cofinancing agreement, which will allow them to work together on projects in common member countries (Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan).

The agreement calls on both institutions to provide up to $2 billion equivalent each over the next three years to finance projects in their common member countries.

Read the full news release.