The Islamic Development Bank Group (IsDB)

The Islamic Development Bank Group and UNIDO share a deep common commitment to contributing to the effective economic and social development of its member States

Recognizing the importance of fostering cooperation, the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) and UNIDO signed a Memorandum of Understanding in July 2006  to institutionalize their partnership and to join forces in encouraging investment promotion activities and institutional capacity-building. During a mission by the UNIDO Director General Kandeh K. Yumkella to Saudi Arabia on 17 July 2006, a memorandum of understanding was signed. A portfolio of programmes and projects had been prepared and was presented to IsDB.

UNIDO Director-General Kandeh K. Yumkella participated at the 32nd Annual Meeting of the Board of Governors of IsDB at Dakar, Senegal, in May 2007. As a guest of honour, the Director-General congratulated IsDB on the newly established Islamic Solidarity Fund and underlined UNIDO commitment to actively contribute to the Fund’s goals. In this context, the President of IsDB, Ahmad Mohamed Ali, and the Director-General agreed to initiate concrete projects and programmes.