The Islamic Development Bank is set to hold it’s biggest ever gathering on the African continent in Maputo, Mozambique, when senior officials and finance and economic affairs ministers from the 56 IDB member countries meet for the 40th annual meeting of the IDB Board of Governors scheduled for June 10.
According to the President of the IDB Group Dr Ahmad Mohamed Ali, the meeting, the first of its kind in the southern part of Africa that is being held under the patronage of Mozambican President, Filipe Nyusi, will also be attended by private sector players and officials from Islamic financing institutions.
Host country Mozambique became an IDB member in November 1995 and has since benefitted from key sector projects worth about US$208bn supported by the IDB.
“The meeting of the Board of Governors will consider a number of important items and reports on its agenda such as a report on the Ten-Year Strategic Framework of the IDB Group, which was approved by the Board of Governors last year in Jeddah with a view to helping the IDB Group react more effectively to social and economic developments in its member countries,” a release by the Africa Press Agency quotes Dr Ali as saying.
Annual meetings of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development (ISFD), will also take place on the sidelines of the 40th Annual Meeting of the IDB Board of Governors.
Also taking place is the 10th Global Islamic Finance Forum entitled “Exploring Innovative Solutions for Affordable Microfinance in Africa”.