Istanbul, Turkey, February 2016 – The Islamic Development Bank (IDB) has committed to mobilizing resources and increasing its role in the reconstruction of Somalia.
Dr. Ahmad Mohamed Ali, President of the IDB, made the announcement on Wednesday during the 3rd Ministerial High-Level Partnership Forum for Somalia in Istanbul, Turkey.

The Forum is the highest decision-making mechanism of the New Deal Compact for Somalia, which aims to increase the effectiveness of international aid as a way to establish economic recovery as a prelude to lasting peace and stability in the country.

The meeting, held at the Ministerial level, was co-chaired by President of the Republic of Turkey, H.E. Recep Tayyip Erdogan, Somalia’s President Hassan Sheikh Mohamud and the United Nations Deputy Secretary-General Jan Eliasson.

“IDB will work to restore basic services and intensify its role in mobilizing resources from its member countries, philanthropists and international organizations,” Dr. Ali said.
He also called for more coordination among all donors and regional partners.

Dr. Ali said that IDB is set to facilitate the transfer of knowledge and expertise through its Reverse Linkage Initiative, which focuses on institutional capacity building, project implementation, resource mobilization and Islamic Banking. He added that IDB will help establish the multi-partner Somalia Infrastructure Trust Fund.

The IDB Group has approved 89 projects in Somalia worth US $90 million for transport, education, health, drought mitigation, water and sanitation, agriculture and Islamic finance. It has also provided several scholarships for Somali students at both undergraduate and postgraduate levels.