Jeddah, Saudi Arabia, May 15, 2023 /PRNewswire/ — Sponsored by Manager of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud, The Annual General Meeting of the Islamic Development Bank (IsDB) Group concluded successfully today. Jeddah, Kingdom of Saudi Arabia.
The four-day event attracted 4,452 participants from 90 countries around the world, as well as 89 leading regional and international organizations committed to sustainable development.
During the event, which was held under the theme of “Partnerships to Avoid Crisis”, IsDB Group announced several projects and signed financing agreements with 24 Member States (MCs) for the total amount. US$5.4 billion Addressing the most pressing challenges hindering growth in the Global South, with a particular focus on health, agriculture, food security, small businesses, education and humanitarian assistance.
IsDB President and Group Chairman, HE Dr. muhammad al jaser“Over the past four days, we have been discussing development-related issues with our partners and member countries. As a result,” he said. These annual meetings are sure to pave the way for even more success in the years to come. ”
During the event, IsDB Group announced several major projects and signed an agreement to strengthen MC’s commitment to funding sustainable development projects. IsDB Group’s Board of Directors has approved over 20 million yen in funding. US$558 million For six projects focused on supporting inclusive growth and infrastructure development in MC.
The IsDB Group has also released a revised Member State Partnership Strategy document. Uzbekistan, Pakistan and Niger This will activate the IsDB Group’s Country Engagement Framework within each country to support multilateral development and growth.
In another development, IsDB, as trustee of the Afghanistan Humanitarian Trust Fund, has signed seven agreements on comprehensive sustainable development projects in Afghanistan. Afghanistancomprehensively consider the US$8,098,180which includes grants from the King Salman Humanitarian Aid and Relief Centre.
IsDB and its international development partners also launched the second phase of the Living and Livelihoods Fund (LLF 2.0), which aims to mobilize resources to support economic development across the Bank’s 32 disadvantaged MCs. IsDB has committed the following contributions US$325 million The highly concessional financing of LLF 2.0 brings total grant contributions to the fund to US$200 million.
The four-day event also included high-level plenary sessions, technical symposia, and side events focused on a wide range of themes such as poverty alleviation, infrastructure development, women’s and youth empowerment, and climate action.
Walid El Majizoub
Phone number: 00971-4-3672530
View original content: https://www.prnewswire.com/apac/news-releases/as-isdb-2023-annual-meetings-conclude-77-finding-agreements-worth-us-5-4-billion- are-signed-301824133.html
Source Islamic Development Bank Group