The Inter-American Development Bank Group (IDB Group) and the Islamic Development Bank Group (ISDB Group) have formalized a new partnership agreement to facilitate joint knowledge sharing and technical assistance opportunities including the co-financing of projects in Guyana and Suriname, the member countries they have in common.
Under the partnership, the IDB and the ISDB could work jointly to improve access to services and opportunities for marginalized groups, enhancing trade through technical assistance, and improve the capacity of the public sector in Suriname and Guyana.
“We are excited to establish this partnership with the Islamic Development Bank to work together in Latin America and the Caribbean,” said IDB President Luis Alberto Moreno. “We look forward to identifying opportunities for co-financing in Suriname and Guyana that will foster the social and economic development in our common member countries.”
The partners will also explore opportunities for collaboration in other IDB member countries with Muslim communities.
The Memorandum of Understanding was signed by IDB President Luis Alberto Moreno, General Manager of the IIC James Scriven and President of the Islamic Development Bank, Dr. Bandar Hajjar at the IDBG Headquarters in Washington D.C.
About the Inter-American Development Bank
The Inter-American Development Bank is a leading source of long-term financing for economic, social and institutional projects in Latin America and the Caribbean. Besides loans, grants and guarantees, the IDB conducts cutting-edge research to offer innovative and sustainable solutions to our region’s most pressing challenges. Founded in 1959 to help accelerate progress in its developing member countries, the IDB continues to work every day to improve lives.
About the Islamic Development Bank
The Islamic Development Bank Group is an international Islamic financial institution, established in 1975 to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly. The ISDB Group also comprises the Islamic Corporation for the Insurance of Investment and Export Credit as well as the Islamic Corporation for the Development of the Private Sector, the International Islamic Trade Finance Corporation, Islamic Research, and Training Institute.
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