03.04.2012, Khartoum -

H. E. Omar Hassan Ahmed Al Bashir, President of the Republic of Sudan, officially inaugurated the 37th Annual Meeting of the Board of Governors of the IDB at the Friendship Hall in Khartoum, on Tuesday, in the presence of Ministers of Finance and Economy and Planning of the 56 member countries of the Islamic Development Bank Group as well as official guests representing various entities of the member countries.

Welcoming the guests and wishing them a pleasant stay in Sudan, President Bashir stressed the important role played by the Islamic Development Bank to support the development of member countries and noticed its valuable contributions in development projects in Sudan.
The Sudanese President called on Muslim countries for further cooperation and collaboration in various economic fields in line with the enormous wealth of these countries in natural resources and human potentials. He pointed out the importance of balanced development and to urged to provide opportunities for all to participate in the process. He called on all relevant institutions in Sudan to take the best out of the annual meeting of the IDB Group in Khartoum and seek opportunities for further cooperation with the IDB Group.

Chairing the meeting, Mr. Ali Mahmoud, Sudan’s Minister of Finance and National Economy wished success to the deliberations of the meeting and achieve the aspirations of the Islamic people. He gave a comprehensive presentation on the role of the IDB, its programs and visions for the future.

Representatives of the African, Arab, and Asian Groups of Governors also spoke at the meeting praising the hospitality and good reception in Sudan. They touched upon a number of issues regarding the economic development in the regions they represent and the Bank's role and contributions in this area.

Later on, the Vice President of the Federal Republic of Nigeria Mohammed Sambo addressed the meeting and praised Sudan for hosting the meeting. He elaborated a number of important elements supportive of economic development in member countries of the IDB Group and stressed the importance of balanced development and equal opportunities, allowing all to contribute effectively to national development.

The IDB Group President Dr Ahmad Mohamed Ali in his address praised the generosity and hospitality of Sudan and the Sudanese government in. Dr. Ali gave detailed account of the success achieved by the Bank in the past and elaborated on the future plans and programs. The Bank President commended the strong support that is rendered to the Bank by its member countries, which has assisted it to achieve the highest credit ratings from international rating agencies. He expressed hope that a golden triangle between Egypt, Sudan and Libya would be established and that geographical extension of the new integrated area would help expand with the highway from Tripoli, Tunis, Algiers, Rabat to Lagos. “Hopefully thereafter, the desert will become a point of connection rather disconnection between North and West Africa”, said the IDB Group President asserting that the Ummah has tremendous knowledge, financial and natural resources that have not been fully tapped.

During President Ali’s speech, His Excellency President Omar Hassan Ahmed Al Bashir made an intervention by expressing his admiration of the speech and directed that it be included in all governmental institutions in Sudan. The speech included a number of elements on historical and cultural issues in Sudan as well as a call for strong cooperation between the Bank and Sudan.

The meeting then continued with the working session of Board of Governors who took turns in taking the floor delivering short speeches on different development related issues. The 37th Annual Meeting of the Board of Governors of the IDB Group will come to a close on Wednesday.