President of Islamic Development Bank: "Millions of dollars from gulf countires flow to Turkey"

While praising Turkish economy and banking sector, President of the Islamic Development Bank Dr. Ahmad Mohamed Ali al-Madani said, "With its dynamism, public finance and banking sector, Turkey is a rising star of the region (…) Having lost their money in US and EU, investors from Gulf countries turn their radars towards Turkey. We will provide Turkey with a loan totaling $2.5 billion so that the country finances various projects. Turkish economy is dealing with the course with firm steps. Despite the tightening markets of EU, its export is on a good level. This is the indicator of its strength and potential." Describing Turkish exporters’ access to new markets especially the Middle East and Africa as a precise approach, al-Madani said, "Both the Union of Chamber and Commodity Exchanges of Turkey (TOBB) and Independent Industrialists’ and Businessmen’s Association (MUSIAD) are quite active with regard to the issue. Wherever I go, I face with their agencies. From my point of view, this is vitally important for Turkey’s economy on in its road to sustainable development." Expressing his satisfaction with Turkey’s opening towards Africa and ongoing cooperation in the region, al-Madani said, "In cooperation with Turkey’s private sector, the Islamic Development Bank is transferring Turkish experience to different places. A great number of contractors in Turkey are financed by the Islamic Development Bank. The collaboration between the Stock Exchange Markets and the Central Banks is also developing. When we consider the fact that half of our members are from Africa, an increase in the level of strategic cooperation between our members are gaining importance for the group of the Islamic Development Bank."