Home Islam Emirates News Agency – Egypt to host 2022 Islamic Development Bank Group Annual Meetings

Emirates News Agency – Egypt to host 2022 Islamic Development Bank Group Annual Meetings

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Cairo, 18th May, 2022 (WAM) — Under the high patronage of Egyptian President Abdel Fattah El-Sisi, and in response to an official invitation from the Government of the Arab Republic of Egypt, the Islamic Development Bank Group will hold its 2022 Annual Meetings in Sharm el-Sheikh, Egypt, from 1-4 June 2022, under the theme “Beyond Recovery: Resilience and Sustainability”.

The meetings are to be held this year in light of major economic and geopolitical developments characterized by the noticeable decline of the COVID-19 pandemic and renewed hope that the world is on track for the recovery phase.

The Ministers of Economy, Planning and Finance of 57 member countries of the Bank will take part in these Meetings. Representatives of international and regional financial institutions, as well as representatives of Islamic banks, national development finance institutions and trade unions of contractors and consultants from OIC member countries will also participate in the activities associated with these meetings.

The meetings will represent an opportunity to study and explore ways to further strengthen economic relations among IDB member countries in today’s changing world. In addition, they will provide member countries with the opportunity to discuss and maximize cooperation with participating funding institutions.

This year’s Meetings will also see – for the first time over four days – the holding of a new edition of the IDB Group’s Private Sector Forum, during which representatives of large corporations and the local business community , regional and international are expected to take part.

The 2022 IsDB Group Annual Meetings will include “the 47th Annual Meeting of the Board of Governors of the Islamic Development Bank”, “the 29th Meeting of the Board of Governors of the Islamic Society for Investment and Credit Insurance ‘Export (ICIEC)”, and “the 22nd General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD)”.

In the same framework, “the 17th Meeting of the Board of Governors of the International Islamic Trade Finance Corporation (ITFC)”, and “the 15th Meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISFD)” will also be detained.

On this occasion, Dr. Hala El-Said, Minister of Planning and Economic Development and Governor of the IDB for Egypt, declared that the Arab Republic of Egypt was using all its capacities to ensure the success of the Annual Meetings of the IDB Group, adding that the country’s long tradition and extended relationship with the Bank since its inception in 1974 has resulted in the Group’s cooperation portfolio of over $16 billion.

Dr. Hala El-Said also pointed out that the last time an IDB Annual Meeting was held in his country was in 1991 and that this year Egypt plans to write history again 30 years later.

She noted that Egypt will present cooperation visions and discuss common issues concerning member countries at all levels, pointing out that several important side events will be organized, including the Business Forum for the private sector and several events related to the preparations. of the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in November 2022, the green economy, achieving sustainable growth and combating climate change, and d other important international issues.

The President of the Islamic Development Bank and Chairman of the Group, Dr. Muhammad Al Jasser, meanwhile said that the IDB Group looks forward to promoting fruitful cooperation with Egypt, noting that the initiative of the Egypt to host the IDB Group’s Annual Meetings this year is an indication of its desire to continue playing its regional role at all levels, the first of which is the pursuit of socio-economic development.

Dr. Al Jasser then added that the approval of the Board of Governors of the Bank to hold the meetings in Egypt demonstrates the Board’s appreciation of the leading role played by the Arab Republic of Egypt in supporting the Group of the IDB and its continuous efforts to support constructive partnerships at different levels.

He also expressed his great confidence in the capabilities that Egypt possesses to make the 2022 IDB Group Annual Meetings a success and make it a special event that will remain etched in people’s minds for years to come, if God he wants it.