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Islamic Development Bank concludes its annual meetings

Islamic Development Bank

Riyadh, (Business News Report)|| The Islamic Development Bank concluded its annual meetings in the Saudi city of Jeddah, announcing the signing of agreements of understanding.

The Islamic Development Bank said that 13 memoranda of understanding and letters of intent were signed between Egyptian partner agencies, the Islamic Bank and member institutions in various vital fields, in addition to about 50 cooperation documents.

A press conference announced the results of the annual meetings of the Islamic Bank Group for the year 2022, which were held during the period from 1-4 June, in the Egyptian city of Sharm El-Sheikh.

Dr. Muhammad bin Suleiman Al-Jasser, Chairman of the Board of Directors of the Islamic Development Bank Group, and Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Governor of Egypt with the group, Chairman of the Board of Governors of the Islamic Development Bank Group, reviewed the agreements and memoranda of understanding and the most prominent results resulting from the Bank’s meetings for this year, which were held under the auspices of Egyptian President Abdel Fattah al-Sisi under the slogan “Post-Pandemic Recovery: Resilience and Sustainability”.

With the participation and presence of Egyptian Prime Minister Mostafa Madbouly, a large number of ministers of planning, economy and finance, central bank governors in the 57 member states, about 5,030 participants, 150 speakers, as well as representatives of 45 international organizations.

The annual meetings provided a regional platform to review the services provided by the Bank Group and the participating financing institutions, which contributed to maximizing the benefit of Member States from the activities of these institutions.

In addition to what this forum provided an opportunity to review the positive developments, the experiences of different countries, and the best practices in facing the negative economic repercussions of the Coronavirus pandemic.

The meetings, and the events accompanying the meetings, resulted in the presentation and review of promising investment opportunities, prospects for developing trade routes, attracting investment flows, in addition to establishing innovative partnerships and establishing commercial relations that allow contributing to regional and global value chains.

This year’s meetings brought together an unprecedented number of participants from member countries of the Bank Group and from around the world, as well as a distinguished elite of representatives of the Egyptian, Arab and African private sectors, representatives of civil society, international and regional development institutions, and the media.

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