OIC Secretary General: IsDB Remains the Prominent Development Finance Institution of the OIC Member States

'In his speech at the opening session of the 48th Annual Meeting of the Islamic Development Bank (IsDB) Group, which was held in Jeddah, Kingdom of Saudi Arabia, on 11th May, 2023, Hissein Brahim Taha, the Secretary-General of the OIC, emphasized that in the light of emerging development challenges and in supporting the efforts of the OIC Member States towards achieving sustainable, resilient and inclusive growth, the role of the IsDB Group, as the prominent development finance institution of the OIC Member States, is becoming increasingly important, according to OIC. Speaking on the performance of the OIC Member States in the post-COVID-19 recovery phase, the Secretary-General underscored the need to provide adequate social and physical infrastructure in OIC Member States that is necessary for promoting inclusive and resilient economic recovery of OIC Member States. Within this context, the Secretary-General highlighted the importance of the IsDB's support in the implementation of the OIC infrastructure projects. The Secretary-General also shed light on the importance of agriculture to the sustainable development and enhancing food security of OIC Member States. In this connection, he commended IsDB's various initiatives aimed at addressing food insecurity and increasing agricultural productivity in OIC Member States. With the theme 'Partnerships to Fend Off Crises', the 48h Annual Meeting of the Islamic Development Bank (IsDB) Group started on 10th May 2023, in Jeddah, the Kingdom of Saudi Arabia, and it will conclude on 13th May, 2023. The meeting is considering administrative, financial and operational activities of the IsDB Group. It is also discussing development challenges facing the Bank's Member States and their possible solutions.

Source: Azerbaijan State News Agency