The People’s Republic of Bangladesh and the Islamic Development Bank (IDB) Group have signed a Host Country Agreement (HCA) for the launch of the IDB Group’s Country Gateway Office (CGO) in the capital city of Dhaka. CGOs have also been recently established in Turkey and Indonesia.
IDB Group President Dr Ahmad Mohamed Ali praised 41 years of solid relations between IDB Group and Bangladesh as a founding and supportive member of the Bank. “Currently, the volume of approved IDB Group financings with Bangladesh stands at US$18.6 billion, the highest amount of financing ever approved by the 56 IDB member countries,” stated Dr Ahmad.
So far the approvals include major funding covering power, agriculture, irrigation, water supply, mining, roads, education and rural development as well as foreign trade operations aimed at enhancing intra-trade amongst member countries.
The IDB Group President further underlined that the decision to launch a CGO in Bangladesh is the culmination of several factors including the country’s outstanding and solid cooperation with the IDB Group, the high economic growth rate in recent years as well as the recent World Bank’s ranking of Bangladesh as a medium income country.
He further expressed hope that the CGO will increase the continued cooperation between Bangladesh and the IDB Group.
IDB Group President Dr Ahmad Mohamed Ali praised 41 years of solid relations between IDB Group and Bangladesh as a founding and supportive member of the Bank. “Currently, the volume of approved IDB Group financings with Bangladesh stands at US$18.6 billion, the highest amount of financing ever approved by the 56 IDB member countries,” stated Dr Ahmad.
So far the approvals include major funding covering power, agriculture, irrigation, water supply, mining, roads, education and rural development as well as foreign trade operations aimed at enhancing intra-trade amongst member countries.
The IDB Group President further underlined that the decision to launch a CGO in Bangladesh is the culmination of several factors including the country’s outstanding and solid cooperation with the IDB Group, the high economic growth rate in recent years as well as the recent World Bank’s ranking of Bangladesh as a medium income country.
He further expressed hope that the CGO will increase the continued cooperation between Bangladesh and the IDB Group.
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