Makkah, KSA, 08.11.2015 – The Islamic Development Bank (IDB) and the Union of the Comoros will work together to strengthen cooperation and investment in the energy and education sectors. This was the theme of a courtesy call by the IDB President, Dr. Ahmad Mohamed Ali, to the President of the Union of the Comoros, HE Ikililou Dhoinine in the holy city of Makkah.

The meeting focused on reviewing the progress of the projects financed by the IDB Group in the Comoros. President Ikililou Dhoinine appreciated the bank’s extensive efforts aimed at the economic development of the member countries as well the role it has played in providing support to different development sectors in the Union of the Comoros.

In his remarks, the IDB President Dr. Ahmad Mohamed Ali, underlined IDB Group’s willingness to enhance cooperation with the Union of the Comoros. He further briefed the Comoros President on the projects that the Bank is planning to implement in partnership with his country.

President Ikililou Dhoinine and Dr. Ahmad Ali also discussed support for SMEs and their contribution to creation of job opportunities and tackling youth unemployment. Other issues discussed included IDB financing for power generation projects in the Comoros particularly the low cost solar energy production schemes as well as distance learning through IDB – UNESCO cooperation.

Dr. Ahmad Mohamed Ali further emphasized IDB Group’s readiness to support the investment drive in the Union of the Comoros by intimating foreign investors with the available opportunities, advantages, and attractions in the island nation.

The IDB Group’s total financing approvals for the Union of the Comoros has reached US $84 million covering different sectors such as education, agriculture, power generation and communications.