MiN. Al-Fassam: Kuwait financed IsDB projects worth over USD 980 mln

ALGIERS, May 21 (KUNA) -- Kuwaiti Minister of Finance, Minister of State for Economic Affairs and Investments Eng. Noura Sulaiman Al-Fassam revealed at Islamic Development Bank (IsDB) meeting on Wednesday that Kuwait provided over USD 980 million in contributions to 63 project since joining the bank.
The Kuwaiti minister led her country's delegation to the 50th annual ministerial meeting of the Board of Governors of IsDB held in Algeria, told KUNA that "Kuwait's participation is very effective in the dialogue sessions on empowering youth and entrepreneurs and enhancing economic diversity." Al-Fassam emphasized that this year's IsDB meetings highlighted the importance of building resilient and inclusive economies capable of adapting to global changes, by strengthening the role of multilateral institutions and expanding areas of cooperation between them.
She added that youth constitute approximately 18 percent of the total population of OIC countries and represent approximately 30 percent of the world's youth population, making their empowerment an urgent development and economic necessity.
Kuwait is proud of its founding membership of the IsDB since August 12, 1974, which reflects its ongoing commitment to supporting Islamic economic cooperation and achieving integration among member states, Al-Fassam noted.
In addition, today's meeting is a series of interactive sessions that included diverse discussions on empowering entrepreneurs, harnessing the energy of youth, and equipping them with future skills, reflecting a collective aspiration to build a more inclusive and sustainable future.
The meeting also included several key items, most notably the adoption of the 49th Annual Report for fiscal year 2024, ratification of the final accounts of affiliated institutions, the election of the Chairman and Vice-Chairmen of the Board of Governors for the 2026 session, and the formation of the Procedures Committee for the next meeting, she added.
Meanwhile, the meetings concluded with the setting of the date and venue for the 51st Annual Meeting of the Board of Governors in 2026.(end) rm.hs