The Islamic Development Bank (IsDB) has launched a major report on transforming agriculture and rural development in its member countries.
The annual report was launched on Monday by the President of the IsDB Dr Bandar Hajjar at the 43rd annual meeting of the bank holding in Tunis, Tunisia. Dr Mansur Muhtar, the Vice President (Operations) of the IsDB, was also at the launch.
The report highlighted how the IsDB is working with member countries to change lives and build capacity of farmers, especially those in rural areas.
“Agriculture is very important especially if we have a value-chain approach. Our role as a development bank is to find new ways of helping farmers. We believe awareness is important in improving agriculture in our member countries,” Dr Hajjar said.
According to the IsDB President, the role of the private sector in meeting the financing needs of 57 member countries is crucial. “We have to think about innovative ideas that will attract the interest of the private sector,” he said.
Also speaking at the launch of the report, Tunisian International Development Minister disclosed that the IsDB has financed projects worth US $3.2 bn in his country across several sectors such as power, agriculture, youth employment.
The IsDB meeting, which holds from April 1-5, 2018, attracted stakeholders from its 57 member countries.