The State of Qatar, represented by the Ministry of Finance (MoF), has signed a memorandum of understanding (MoU) with the Islamic Development Bank (IsDB) Group stipulating strategic cooperation between the two sides.
IsDB Group President Dr. Muhammad Al-Jasser and Qatari Minister of Finance Ali bin Ahmed Al-Kuwari signed the MoU on the fourth Qatar Economic Forum.
The strategic cooperation intends to develop a comprehensive partnership strategy from 2024 through 2027. The MoU is in line with the IsDB’s 2023-2025 strategy and the Qatar National Vision 2030, which focuses on supporting sustainable economic transformation in Qatar.
The two parties stressed that through this ambitious initiative, they will work to strengthen their deep relations, promote economic transformation, and advance international cooperation. The partnership will focus on integrating women and youth, mitigating the effects of climate change and adapting to it, and developing human and institutional capabilities.
According to the statement, “The agreement aims to enhance development cooperation between the two sides by targeting green infrastructure and partnering with the private and financial sectors. It also aims to support some initiatives launched by the State of Qatar for economic transformation and strengthening partnerships for development in some selected member countries.”
Recently, Islamic Development Bank announced the approval of approximately $418 million to fund new development projects in Tajikistan, Benin, Cote d’Ivoire, and Turkey.
