Manama: Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa attended the 41st annual meeting of the board of governors of the Islamic Development Bank (IDB) Group, in Jakarta, Indonesia.
The meeting approved the nomination of Dr Bandar bin Mohammed Hajjar as new president of the IDB Group, upon the recommendation of Saudi Arabia.
Participants commended IDB Group chairman Dr Ahmad Mohamed Ali’s crucial role in fostering the development process in member states and technical and structural level initiatives he launched to enhance IDB’s position as one of the world’s leading financing funds.
The meeting discussed an updated report on the progress made in implementing the group’s 10-year strategic framework.
The framework was adopted by the governors during the 39th meeting in Kuwait. It includes significant initiatives in areas relating to institutional performance, governance and financial sustainability.
The active participation of Bahrain comes within the co-operation between the kingdom and the bank, which spans several years and covers various areas of development work.
The IDB provides financing to a wide range of projects in Bahrain, particularly in the sectors of electricity and water, roads and sewage. It also supports the private sector and entrepreneurs in a way that contributes to the flourishing of small and medium-sized enterprises.
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