Islamic Development Bank Group signs financing agreements worth USD5.4bn

Islamic Development Bank Group signs financing agreements worth USD5.4bn

JEDDAH, 14th May, 2023 (WAM) – The Islamic Development Bank (IsDB) Group concluded on Saturday its annual meetings held under the auspices of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud from 10th to 13th May 2023 in Jeddah under the theme "Partnerships to Fend off Crises", Saudi Press Agency reported.
The four-day annual meetings witnessed the attendance of 4,452 participants from 90 countries, in addition to the participation of 89 international and regional partner organizations.
The meetings included launching several significant projects and signing financing agreements between 24 member countries worth $5.4 billion to address the severe challenges facing the countries of the south of the world.
The signed agreements cover the fields of healthcare, agriculture, food security, small and medium enterprises, education, and humanitarian support.
President of the Islamic Development Bank (IsDB) Group, Dr. Mohammed Sulaiman Al-Jasser, said, "Over the past four days, we have discussed with the member states and partners a wide range of development issues and the future of the IsDB Group."
The IsDB meetings also launched seven significant projects. They signed several agreements that include financing six projects in sustainable development, with a value of more than $558 million, focusing on inclusive growth and developing infrastructure in the Bank's member states.
Regarding humanitarian aid provided within the framework of Afghanistan Humanitarian Trust Fund (AHTF), managed by the IsDB, the Group signed seven agreements for projects of sustainable development in Afghanistan with a value of $8 billion, including grants from King Salman Humanitarian Aid and Relief Center (KSrelief).