Iran

Iran, IDB Stress Development of Economic Cooperation

13920720000597_PhotoIIranian Economy Minister Ali Tayyebnia and President of the Islamic Development Bank (IDB) Ahmad Mohamed Ali in a meeting in Washington underscored the necessity for the enhancement of economic cooperation between Tehran and the IDB.
“One of Iran’s priorities is all-out support for IDB’s activities and expansion of the means and methods of Islamic provision of financial resources for implementing infrastructural and developmental projects,” Tayyebnia said during the meeting held on the sidelines of the 2013 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) in Washington, the US.

“Iran’s important priority will be the private sector’s use of the financial resources and technical assistance of the institutions and bodies affiliated to the IDB,” he added.

Mohamed Ali, for his part, appreciated Iran’s all-out support for the IDB, and underlined the necessity for the expansion of economic cooperation between the two sides.

The IDB is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded in 1973 by the Finance Ministers at the first Organization of the Islamic Conference (now called the Organization of Islamic Cooperation). The bank officially began its activities on 20 October 1975.

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