Dhaka wants to join IDB's move to set up Islamic Infrastructure Bank

05 Jun,2016


Jeddah (Saudi Arabia), BdChronicle:

Bangladesh wants to join the initiative of the Islamic Development Bank (IDB) to set up an Islamic Infrastructure Bank, aiming to provide funds to Muslim countries for implementing their mega infrastructural projects.

Prime Minister Sheikh Hasina, now on a five-day official visit to the Kingdom of Saudi Arabia (KSA), expressed the request when IDB acting President Dr Ahmed Tiktik met her at the Royal Conference Palace here Saturday evening and informed her about the IDB's move.

Sheikh Hasina also urged the IDB to reduce the interest rate of International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the IDB, for Bangladesh's oil-import purpose.

Foreign Secretary M Shahidul Haque and PM's Press Secretary Ihsanul Karim jointly briefed reporters after the meeting.

The Prime Minster is now visiting the KSA at the invitation of King Salman bin Abdulaziz Al Saud.

As a leader in Shari'ah-compliant trade finance, the ITFC deploys its expertise and funds in businesses and governments in its member countries. Its primary focus is on encouraging intra-trade among OIC member countries.

As a member country of IDB, Bangladesh takes credit from the ITFC for oil import.

Apprising the Prime Minister about some of its other issues, Dr Tiktik said it will open up its new country gateway office in Bangladesh out of five new country gateway offices across the Muslim world.

He said the IDB is continuing its operations in Bangladesh prioritising energy, rural housing and road projects.

The IDB acting president said the work on 90 school-cum-cyclone shelters, out of 173 school-cum-cyclone shelters, have been completed under the 'Fael Khair' programme in 13 districts of southern Bangladesh, including Barguna, Patuakhali and Bhola spending $ 130 million donated by King Abdullah International Humanitarian and Charitable Foundation for the Sidr and Aila affected people.

Dr Ahmed Tiktik informed Hasina that the IDB would provide some 10 mobile clinics to Bangladesh next year to facilitate medical services in remote rural areas.

Highlighting Bangladesh development model before the IDB acting president, Hasina said Bangladesh has raised its budget size several times as well as is poised to attain 7.05 percent GDP growth in the outgoing year.

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