ISLAMABAD:The Islamic Development Bank’s Board (IsDB) has provided approximately US $14.7 billion in financing development for Pakistan over the years.
This was stated in the 348th meeting of Islamic Development Bank’s Board of Executive Directors, held in Jeddah, on December 10-11, 2022, said a press release issued here on Friday.
The meeting was attended by Secretary of Economic Affairs Division Dr. Kazim Niaz, who also attended the board meetings of IsDB subsidiary organizations i.e. the Islamic Solidarity Fund for Development (ISFD), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and Islamic Development Bank Institute (IsDBi).
It is pertinent to mention that Pakistan is the tenth largest shareholder of the IsDB and is a founding member of the IsDB.
Meanwhile, important decisions taken during the board meetings included approval of financing for development projects in member countries, new operations, and business plans as well as the bank’s strategy in challenging global economic circumstances.
Moreover, the secretary of Economic Affairs Division also met the President of the IsDB Group Dr. Muhammad Sulaiman Al-Jasser on the sidelines of the board meetings.
The bank also discussed development cooperation with Pakistan in the health sector, food security, water and sanitation, and matters related to finances need for the reconstruction and rehabilitation after recent floods.