Ministry of Economic Affairs

(Economic Affairs Division)

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Press Release

348^th Meeting of Islamic Development Bank’s Board of Executive Directors Held In Jeddah on December 10-11, 2022 

Dr. Kazim Niaz, Secretary, Economic Affairs Division, attended the 348^th Meeting of the Islamic Development Bank’s Board of Executive Directors, and related Board meetings of IsDB subsidiary organizations i.e. the Islamic Solidary Fund for Development (ISFD), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Islamic Development Bank Institute (IsDBi).

Pakistan is the tenth largest shareholder of the IsDB and is a founding member of the IsDB. 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.

The Secretary, Economic Affairs Division also met the President of the IsDB Group, Dr. Muhammad Sulaiman Al-Jasser on the sidelines of the Board Meetings. Development Cooperation with Pakistan in the health sector, food security, water & sanitation, and matters related to post disaster reconstruction and rehabilitation, were discussed. To date, the IsDB has provided approximately US $14.7 billion in development financing for Pakistan.

Islamabad, the 14^th December, 2022.