IBD governors apprised of Islamic Summit decisions

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Jeddah—The OIC Secretary General, Iyad Ameen Madani briefed the 41st Annual Meeting of Board of Governors of Islamic Development Bank (IDB), which commenced its proceedings in Jakarta, Indonesia on the decisions of the recently held 13th Islamic Summit Conference in Istanbul, Turkey on 14-15 April 2016, on socio-economic cooperation.
In his speech, which was delivered on his behalf by Assistant Secretary General Amb. Hameed Opeloyeru, to the Jakarta meeting, Madani underscored the Summit’s call for additional commitment of funds and in-kind contributions to meet the approved target capital of US10 billion for the Islamic Solidarity Fund for Development. The speech also dwelt on the Summit’s approval for the elaboration of a comprehensive policy for infrastructure development, which will include regional and thematic frameworks for intra-OIC cooperation, based on the positive experiences realized during the implementation of the Special Programme for the Development of Africa (SPDA), and the OIC Plan of Action for Central Asia (OIC-PACCA).
The OIC also participated in the Seminar on Islamic Microfinance for Poverty Alleviation in OIC Member States, which took place in Bogor, Indonesia, on 14-15 May 2016 on the sidelines of the annual Board of Governors’ meeting. In it the Secretary General emphasized the fact that the Islamic microfinance has now featured prominently on the agenda of the OIC, including the current drive towards its steady expansion with the aim of further strengthening the OIC poverty alleviation strategies.
In addition to launching the Special Programme for Central Asia, a physical infrastructure development component of OIC-PACCA, the meeting took note of the elaboration of OIC-2025:Programme of Action and its new target of 25% for intra-OIC trade by the year 2025.
Another far-reaching decision of the meeting is the admission ofthe Co-operative Republic of Guyana as the 57th member of IDBand this means that all 57 Member States of OIC are now members of IDB.—Email

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