13 agreements concluded during IsDB Group 47th annual meetings

SHARM EL SHEIKH, 4th June, 2022 (WAM) — The 47th annual meetings of the Islamic Development Bank (IsDB) group concluded on Saturday in the Egyptian resort Sharm El Sheikh by underlining the importance of driving green transition.

Held under the theme: “Beyond Recovery: Resilience and Sustainability” in Sharm El-Shiekh for the first time since 1990s, the meetings included a three-day private business sector forum that highlighted the role the UN Climate Change Conference (COP27) will play in addressing the challenges and bottlenecks that developing African economies are suffering amid the ongoing global crises, especially the severe impacts related to the situation in Ukraine.

Toward this end, the meetings witnessed the signing of 13 agreements and letters of intention as well as inking of 50 cooperation documents between the IsDB and its member countries.

The main objective of the forum was to provide a unique platform to network and establish business relations and partnerships with other leading representatives and stakeholders from business community in order to share their related experience, success stories & best practices, while jointly exploring investment and trade opportunities offered by member countries. The forum also highlighted the IsDB Group activities, services and initiatives in member countries.

The forum emphasised the role of IsDB Group in promoting PPP projects and promote IsDB Group’s services to the private sectors interested to invest in Egypt. They also connected business communities in member countries by arranging parallel B2B and B2G scheduled meetings. It gathered more than 2,500 participants from multiple sectors across the globe such as government officials, Chairmen, Presidents & CEOs of local and international companies, multilateral and financial institutions, chambers of commerce & industry, business associations, investment promotion agencies, individual investors, entrepreneurs, hundreds of policies and decision-makers, as well as the Governors of the Islamic Development Bank and other participants from various sectors from all over the world.