The Fund, which aims at combating poverty and its causes in 56 IDB member countries was agreed upon during the Islamic Summit Conference held in Makkah Al Mukarramah in December 2005. The Annual Meeting of the IDB Board of Governors will be held for the first time in the Senegalese capital on Tuesday 12 Jumada I, 1428H (29 May 2007) under the patronage of H.E. Abdoulaye Wade, the Senegalese President. The Meeting will be held at the level of ministers of finance, economy and planning of the IDB member countries. About 600 delegates will participate in the Annual Meeting, representing international and regional finance organizations, in addition to representatives of Islamic banks, National Development Finance Institutions (NDFIs) in member countries, the Association of Contractors and Consultants in the OIC member countries. In conjunction with the 32nd Annual Meeting of the IDB Board of Governors, a number of other meetings will also be held, such as the 14th Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the 7th Meeting of the General Assembly of the Islamic Corporation for Development of the Private Sector (ICD), and the second meeting of the General Assembly of The International Islamic Trade Finance Corporation ( ITFC ). A number of other activities and events will also be held during the Annual Meetings including the 18th Annual Seminar entitled "Capacity Building for Promotion of Trade and Investment in Africa". A number of well-known economists and personalities are expected to attend the Seminar. The Seminar will explore the best ways and means of promoting the capacities of member countries in the African Continent to develop trade and investments to boost economic cooperation and push forward the countries of the Continent towards development. An academic seminar will be held on the "Development of the Islamic Financial Sector", in addition to other important seminars on promoting and developing the private sector in Africa, knowledge-based economy and unemployment reduction.