BAKU, Azerbaijan, June 18. The Islamic Development Bank (IsDB) Group aims to allocate a larger volume of lending and to double financing to member countries over the next five years, IsDB Group Chairman Muhammad Sulaiman Al Jasser said, Trend's correspondent reports from the event.
He made the remark during the Fireside Chat with the Chairman of IsDB Group, organized within the framework of the 51st Annual Meeting of the Group.
According to him, while the volume of financing approved until 2001 was about $1.5 billion, this figure has already reached $6 billion by 2025.
"I hope that by the end of the next five years we will double this figure," he noted.
The IsDB chairman added that the institution's activities also strengthen the financing of joint projects with other multilateral development banks (MDBs). Al-Jasir, who emphasized that the bank is currently working closely with 10 MDBs, also noted that the Arab Coordination Group plays an important role in this process.
"We have established very extensive joint activities with these organizations and intend to further expand this cooperation," he noted.
Al Jasser emphasized that the main goal is to support the sustainable formation of economic development in member countries and further expand the scope of the bank's influence. According to him, the institution will continue its activities with the support of the governing bodies to achieve these goals.
