IBD gov­er­nors ap­prised of Is­lamic Sum­mit de­ci­sions

Pakistan Observer - - INTERNATIONAL -

JEDDAH—The OIC Sec­re­tary Gen­eral, Iyad Ameen Madani briefed the 41st An­nual Meet­ing of Board of Gov­er­nors of Is­lamic De­vel­op­ment Bank (IDB), which com­menced its pro­ceed­ings in Jakarta, In­done­sia on the de­ci­sions of the re­cently held 13th Is­lamic Sum­mit Con­fer­ence in Istanbul, Tur­key on 14-15 April 2016, on so­cio-eco­nomic co­op­er­a­tion.

In his speech, which was de­liv­ered on his be­half by As­sis­tant Sec­re­tary Gen­eral Amb. Hameed Opeloyeru, to the Jakarta meet­ing, Madani un­der­scored the Sum­mit’s call for ad­di­tional com­mit­ment of funds and in-kind con­tri­bu­tions to meet the ap­proved tar­get cap­i­tal of US10 bil­lion for the Is­lamic Sol­i­dar­ity Fund for De­vel­op­ment. The speech also dwelt on the Sum­mit’s ap­proval for the elab­o­ra­tion of a com­pre­hen­sive pol­icy for in­fra­struc­ture de­vel­op­ment, which will in­clude re­gional and the­matic frame­works for in­tra-OIC co­op­er­a­tion, based on the pos­i­tive ex­pe­ri­ences re­al­ized dur­ing the im­ple­men­ta­tion of the Spe­cial Pro­gramme for the De­vel­op­ment of Africa (SPDA), and the OIC Plan of Ac­tion for Cen­tral Asia (OIC-PACCA).

The OIC also par­tic­i­pated in the Sem­i­nar on Is­lamic Mi­cro­fi­nance for Poverty Alle­vi­a­tion in OIC Mem­ber States, which took place in Bo­gor, In­done­sia, on 14-15 May 2016 on the side­lines of the an­nual Board of Gov­er­nors’ meet­ing. In it the Sec­re­tary Gen­eral em­pha­sized the fact that the Is­lamic mi­cro­fi­nance has now fea­tured promi­nently on the agenda of the OIC, in­clud­ing the cur­rent drive to­wards its steady ex­pan­sion with the aim of fur­ther strength­en­ing the OIC poverty alle­vi­a­tion strate­gies.

In ad­di­tion to launch­ing the Spe­cial Pro­gramme for Cen­tral Asia, a phys­i­cal in­fra­struc­ture de­vel­op­ment com­po­nent of OIC-PACCA, the meet­ing took note of the elab­o­ra­tion of OIC-2025:Pro­gramme of Ac­tion and its new tar­get of 25% for in­tra-OIC trade by the year 2025.

An­other far-reach­ing de­ci­sion of the meet­ing is the ad­mis­sion ofthe Co-op­er­a­tive Repub­lic of Guyana as the 57th mem­ber of IDBand this means that all 57 Mem­ber States of OIC are now mem­bers of IDB.—Email

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