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The Board of Executive Directors of the IDB Commends the Arrangements Made by the Mozambican Authorities to Ensure the Success of the 40th Annual Meeting of the IDB Board of Governors

زيادة حجم الخط مسح إنقاص حجم الخط
Jeddah -neprass - alisar ali 
Maputo: 7/6/2015 : The Board of Executive Directors of the Islamic Development Bank started today Sunday in Maputo, Republic of Mozambique, under the chairmanship of H.E. Dr. Ahmad Mohamed Ali, President of the IDB Group.

The session is taking place a couple of days ahead of the 40th Annual Meeting of the IDB Board of Governors, which is scheduled to take place at the level of the Ministers of Finance and Economic Affairs of the 56 IDB member countries from 23 Sha’aban 1436H (10 June 2015) in Maputo at the kind invitation of the Government of the Republic of Mozambique.

At the outset, the President of the IDB Group expressed gratitude and appreciation to the President, government and people of the Republic of Mozambique for hosting the 40th Annual Meeting and side events of the IDB Group. At this juncture, he hailed the solid ties of cooperation existing between the Republic of Mozambique and the Islamic Development Bank since the former became a member in November 1995. He also expressed deep gratitude and appreciation for the excellent arrangements that all the Mozambican authorities concerned have made to ensure the success of this important meeting and all its side events.

A number of important items are on the agenda of the session and among its salient items is the consideration of a report on the Medium-Term Sukuk Program given the resounding success of the Program for which the IDB had already allocated an amount of USD 10 billion, which has been fully issued in stages. This reflects the IDB’s prominent position and the trust placed in it on the international financial scene as one of the few multilateral financial institutions that have been attributed the highest credit rating of AAA by all three major global rating institutions, namely Standard and Poor's, Fitch and Moody's. Furthermore, both the Basel Committee for Banking Supervision and the European Commission recognized the IDB respectively in 2004 and 2007 as a zero-risk weighted multilateral financial institution.

The meeting will also consider the progress made so far in the implementation of the Member Country Partnership Strategic Programme toward which the IDB has gone a long way it since 20 member countries have so far signed it with the Bank. The groundwork is also being laid with six other countries with to implement a partnership strategy with each country as part of a three-year programme of the IDB Group’s interventions in the development process of each country in line with the development priorities set by each country.

The Board will also discuss a number of administrative and technical matters, approve new financing operations to help fund new development projects in a number of member countries and approve grants and assistance for some Muslim communities in non-member countries to help enhance their health and education projects.
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