Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, today participated in the plenary sessions of the annual meeting of the Board of Governors of the Islamic Development Bank (IsDB), held here on September 2-4, under the patronage of the Uzbek President, Shavkat Mirziyoyev.
Shaikh Salman bin Khalifa Al Khalifa stressed the importance of carrying on the implementation of the ten-year strategy with the required efficiency and effectiveness, through strengthening joint international cooperation and concerted efforts of all institutions and bodies affiliated with the Islamic Development Bank Group in a way that would contribute to achieving development sustainability and prosperity at all levels.
The minister highlighted the most important developments within IsDB’s strategy, including the preservation of the core values of the strategy, rapid response to the challenges created by the economic and developmental challenges imposed by the novel Coronavirus (Covid-19) pandemic and their reformulation towards effective development and reform.
He stressed the need to continue achieving important priorities in order to reach development goals that focus on joint innovation trends in the field of green industry, building a global network of developers capable of adapting and sustainability in the face of the challenges posed by the pandemic.
The Finance Minister praised the IsDB’s multiple initiatives in this field, including the partnership with the United Nations and the World Bank, the initiative to benefit from Islamic social finance, the increased use of long-term investments in Islamic finance.
IsDB’s initiatives also include the creation of a special Fund, known as Science, Technology and Innovation Transform Fund, and the Aid for Trade Initiative for Arab States, launched and implemented by the International Islamic Trade Finance Corporation, in collaboration with the Arab League and the relevant UN agencies, he said, noting that they aim to boost economic and social development process in the member states.
Source: Bahrain News Agency