Islamic Development Bank's 2024 Annual Meetings: Golden Jubilee Celebration and $418m in New Funding Approved for Member Countries
The Islamic Development Bank's annual meetings are taking place in Riyadh from April 27-30, 2024, under the patronage of King Salman bin Abdulaziz.
The meetings mark the bank's 50-year anniversary and are being held under the theme 'Taking pride in our past, shaping our future: authenticity, solidarity, and prosperity.' Finance ministers, financial institutions, Islamic finance experts, private sector, and non-governmental organizations are attending.
The event is receiving widespread media coverage.
The IsDB (Islamic Development Bank) held an event with knowledge sharing sessions, seminars, and press conferences focusing on development, regional cooperation, and Islamic finance.
The bank approved $418m for new development projects in member countries, including a $150m allocation for Tajikistan to build the Rogun hydroelectric power station, which aims to provide clean, affordable, and reliable electricity from renewable sources.
The Ivory Coast received €70.46 million in financing from the IsDB (Islamic Development Bank) for a project focused on the development of roots and tubers, including cassava.
The IsDB held annual meetings where key events included the Governors' Roundtable, the 18th Global Forum on Islamic Finance, the Private Sector Forum 2024, the Philanthropy Forum, and the Future Vision Symposium.
Discussions centered around multidimensional poverty, South-South cooperation, financing the Sustainable Development Goals, and unlocking economic potential through strategic sessions for the CEOs of the bank's entities.