Started with 268th session of the Board of Executive Directors of the Islamic Development Bank on Sunday, 'the Islamic Week' continued with the 35th Annual Meeting of IDB Board of Governors, which was also attended by ministers of finance, economics and planning from 56 member - countries of the Bank, and included meetings of the Islamic Corporation for the Development of the Private Sector (ICD), International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development.
The agenda included issues such as strategic partnership between the new IDB member-countries, and in particular, the cooperation agreement recently signed with Turkey. Strategic Partnership of member-countries is a mechanism to involve each member-country to create a partnership strategy, focusing on development priorities of the participating countries. Moreover, the session's agenda includes discussion of issues such as progress in implementing the reform program of the IDB Group, the implementation of the Jeddah Declaration, adopted in 2008, on the results of the 33rd Annual Meeting of the IDB Board of Governors held in Jeddah. Moreover, a number of administrative and technical issues, approval of new projects in several member-countries, as well as grants and support to Muslim communities in the countries-non-members of the bank were discussed at the session.
The meeting also considered a number of vital topics on the agenda including consideration of the Thirty-fifth Annual Report of IDB 1430H (2009-2010), request of the Federal Republic of Nigeria to increase its subscription to the Capital Stock of the Islamic Development Bank, allocation of 5% (not less than US$ 5 million) from IDB's net income expected for the Financial Year 1431H for Technical Assistance Grant Operations, allocation of 2% (not less than US$ 2 million) from IDB's net income expected for the Financial Year 1431H for the Merit Scholarship Program, invitation extended by the Republic of Tajikistan to host the Thirty-ninth Annual Meeting of the IDB Board of Governors, date and Venue of the Thirty-sixth Annual Meeting of the IDB Board of Governors, scheduled to be in Yemen.
During the meeting new projects were approved for member countries, several loan agreements were signed.
The meetings of the Islamic Corporation for Private Sector Development (ICD), International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development were also held as part of the annual meeting.