Washington: Minister of Planning and Economic Development Ahmed Rostom affirmed that the strategic partnership between Egypt and the Islamic Development Bank Group represents a key pillar in supporting comprehensive development efforts. Rostom made the remarks during a meeting with Zamir Iqbal and a delegation from the bank on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank.

According to State Information Service Egypt, Rostom stressed Egypt’s keenness to deepen cooperation with the bank, given its role as a major development partner. He noted that Egypt, one of the group’s largest shareholders, seeks to maximize the benefits of this partnership through knowledge exchange and enhanced technical cooperation. Rostom expressed Egypt’s aspiration to strengthen the bank’s role in supporting the implementation of the country’s economic reform program, contributing to attracting more investments and creating sustainable job opportunities.

The meeting reviewed the overall portfolio of joint cooperation between Egypt and the IsDB Group and its affiliated institutions. For his part, Iqbal said the bank is closely following the positive developments in the Egyptian economy, praising its resilience in the face of regional and global challenges. He reaffirmed the group’s full readiness to support Egypt’s ongoing structural reform efforts.

Iqbal also pointed to ongoing preparations for the IsDB Group’s annual meetings, scheduled to be held in Baku, Azerbaijan, next June, stressing the importance of Egypt’s active participation. On behalf of Muhammad Al Jasser, Iqbal congratulated Rostom on assuming the position of Egypt’s governor at the bank, expressing hope for continued fruitful development cooperation between the two sides.

Established in 1975, the IsDB comprises 57 member states of the Organization of Islamic Cooperation and aims to support economic and social development in member countries in accordance with Islamic finance principles.