Islamic Development Bank Convenes for 2024 Meetings in Riyadh

IQNA – The Islamic Development Bank (IsDB) is hosting its 2024 annual meetings in Riyadh from April 27 to 30 as as the bank celebrates its 50th anniversary.

"Taking pride in our past, shaping our future: authenticity, solidarity, and prosperity," has been chosen as this year’s theme.

Key figures from the world of finance, including ministers, institution representatives, and experts in Islamic finance, alongside private and NGO sectors, are convening for the event.

Various sessions, seminars, and press briefings centered on development, cooperation, and Islamic financial practices are set to be held in the event, according to Saudi media outlets.

Highlighting its dedication to sustainable progress, the IsDB has approved funding of approximately $418 million for new initiatives in member states. This includes a $150 million grant for Tajikistan's Rogun hydroelectric power station, aimed at generating renewable energy, and a €70.46 million investment in Ivory Coast's agricultural sector to enhance the cassava value chain.

The meetings also feature key discussions at the Governors’ Roundtable, the 18th IsDB Global Forum on Islamic Finance, and other significant forums focusing on global challenges like poverty, collaboration among developing countries, and achieving the Sustainable Development Goals.

A special session titled 'Unlocking Economic Potential' will bring together the CEOs of IsDB's entities to explore avenues for economic growth.

Source: Agencies