Ethiopia Participates At 48th Annual Meeting of Islamic Dev’t Bank in Saudi Arabia

The 48th annual meeting of Islamic Development Bank (IDB) was held in Jeddah, Kingdom of Saudi Arabia.

Ethiopia has participated at the event for the first as a guest, Ministry of Foreign Affairs said.

Current issues such as exploring opportunities for joint cooperation in the direction of eliminating the consequences of natural disasters, developing human capital, building stable, green and sustainable infrastructure were discussed during the annual meeting.

The Bank has 57 member countries that are also members of the Organization of Islamic Countries (OIC).

The Islamic Development Bank is one of the biggest sources of alternative financing other than the International Monetary Fund (IMF) and World Bank which provides finance to member countries for the construction of infrastructure projects including education, health and other multifaceted development efforts.

Ethiopia has been working with the utmost priority to become one of the beneficiaries of this financial institution, the ministry indicated.

Source: Ethiopian News Agency