Egypt to host IsDB Group annual meetings for first time since 1990s

Doaa A.Moneim , Tuesday 17 May 2022

The Islamic Development Bank Group is set to hold its 2022 Annual Meetings in Sharm El-Sheikh from 1 to 4 June under the theme ‘Beyond Recovery: Resilience and Sustainability,’ the planning ministry announced on Tuesday.

File Photo: A view of the Islamic Development Bank Group building in Jeddah, Saudi Arabia. REUTERS


The meetings will be held in Egypt for the first time since the 1990s.

The meetings will also include a new edition of the IsDB Group Private Sector Forum, in which representatives of major companies and the business community at the local, regional and international levels are expected to take part.

The ministers of economy, planning and finance from 57 member countries of the Bank are expected to participate in the meetings, as will representatives of international and regional financial institutions and Islamic banks, national development finance institutions, and contractor and consultant unions from member countries.

The meetings will represent an opportunity to study and explore how to further consolidate economic relations between IsDB member countries.

In addition, they will provide a chance for member countries to discuss and maximise cooperation with the participating financing institutions.

The meetings of the IsDB Group will include the 47th Annual Meeting of the Board of Governors of the Islamic Development Bank; the 29th Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit; the 22nd General Assembly of the Islamic Corporation for the Development of the Private Sector; the 17th Meeting of the Board of Governors of the International Islamic Trade Finance Corporation; and the 15th Meeting of the Board of Governors of the Islamic Solidarity Fund for Development.

Hala El-Said, Egypt’s Minister of Planning and Economic Development and IsDB Governor for Egypt, said that the country is employing all its capabilities to ensure the success of the IsDB Group Annual Meetings, adding that the country’s long history and extended relationship with the Bank since its inception in 1974 has resulted in a Group cooperation portfolio of more than $16 billion.

El-Said noted that Egypt will present visions for cooperation and discuss common issues concerning member countries at all levels, highlighting that several important side events will be organized, including the Business Forum for the Private Sector and several events related to the preparations for the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in November 2022, the green economy, achieving sustainable growth and confronting climate change, and other important international issues.

Islamic Development Bank President and Group Chairman Muhammad Al-Jasser stated that the IsDB Group’s approval to hold the meetings in Egypt is indicative of the board's appreciation of Egypt’s leading role in supporting the IsDB Group and its continuous efforts to support constructive partnerships at various levels.


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