Jeddah / Moroni, 13 October 2021 - Islamic Development Bank (IsDB) President and Chairman of IsDB Group, H.E. Dr. Muhammad Al Jasser, on Wednesday virtually met with H.E. SOUEF Kamalidini, Minister of Finance, Budget and Banking Sector of Comoros.

At the meeting, Dr. Al Jasser felicitated the Minister on his appointment to the post and also wished him success as the IsDB Governor for Comoros assuring him of IsDB’s support and cooperation for promotion of socio-economic development of the country.

The Chairman of IsDB Group, then, expressed pleasure over the ongoing trend of growing cooperation between the Group and Comoros.

“IsDB Group is committed to continuing to support Comoros in dealing with the impact of the COVID-19 pandemic, including providing the needful to protect jobs and revive economic growth,” Dr. Muhammad Al Jasser stated.

Furthermore, he elaborated how IsDB Group’s active portfolio in Comoros stands at US$ 309.5 million while the total approvals for the member country have reached US$ 435.1 million inclusive of operations funded by International  Islamic Trade Finance Corporation (ITFC), which is the IsDB’s trade financing arm.  

The IsDB Governor for Comoros for his part commended the role IsDB Group is playing in the socio-economic development of his country and voiced hope that the scope of the ongoing cooperation would further expand.

Also featuring at the discussions were providing Technical Assistance (TA) programs; a gradual shift to loans and blended finance in proportion with the improvement of the country’s economic and financial situation; speeding up the implementation of existing projects; considerations over expanding IsDB Group portfolio in Comoros; as well as IsDB programs for scholarships and Science, Technology, and Innovation (STI).