Developing Eight Organization for Economic Cooperation (D-8) and Islamic Development Bank (IsDB) have both agreed to further strengthen their partnership and cooperation in various areas including agriculture, SMEs, transportation, and energy, in Member Countries.

This was stated during the meeting between the Secretary General of D-8 Organization, H.E. Ambassador Isiaka Abdulqadir Imam, and the Country Manager, IsDB Regional Hub in Turkey, Mr. Hammad Zafar Hundal, held virtually on Tuesday, 15 February 2022.

In his remark, Ambassador Imam expressed his profound appreciation to IsDB Group for their cooperation and assistance to D-8 organization in the past. He used the opportunity to congratulate the financial lending institution for being rated AAA by Moody’s credit rating agency last year, stating that this attest to the stability of the financial institution.

Speaking further, Ambassador Imam explained to IsDB Group Representative that under the “Project Support Fund” initiative of D-8, the organization is currently providing 20,000 Euros for project financing to researchers, entrepreneurs, and private entities in Member States to conduct feasibility and pre-feasibility studies, and he therefore requested for technical and financial assistance to help in the implementation of those projects, arising from those studies.

Responding, the IsDB Group Country Manager, Mr. Hundal described D-8 Organization as an important partner of his organization and restated their desire to further cooperation in areas of Agriculture, Small & Medium Scale Enterprises, Transport and Energy, adding that employment generation and building resilience are areas that could also be explored for mutual benefit of both parties.

On the forthcoming activities and events of D-8 Organization, Ambassador Imam apprised the IsDB Regional Country Manager of D-8-UNCTAD joint webinar on International Investments Agreements (IIAs) and Public Health taking place on the 28 February, 2022, virtually, and also the Joint Capacity Building Programme being co-organized by D-8 with the World Customs Organization on E-Commerce Crimes in May 2022 in Turkey, and finally the celebration of D-8 Organization 25th Anniversary of its founding in June this year.

While congratulating D-8 Organization on its forthcoming Silver Jubilee Anniversary and its milestone achievements since it was established, Mr. Hundal assured the Secretary General that IsDB would participate in the D8’s forthcoming events.