News Column

Iran, Islamic Development Bank Meet on Enhancement of Cooperation

June 29, 2014

TEHRAN (FNA)- Iranian Economy Minister Ali Tayyebnia and President of the Islamic Development Bank (IDB) Ahmed Mohammed Ali vowed to do their best to pave the ground for the promotion of mutual cooperation between the two sides.

In a meeting on the sidelines of the 39th Annual Session of the Islamic Development Bank in Jeddah, Saudi Arabia, the two officials stressed the need for both sides to utilize each and every capacity and potential to broaden cooperation. The two sides also agreed that the organizations which are led by the IDB would have more active participation in Iran to cooperate with the country's private sector. A high-ranking delegation from three IDB subsidiaries will also visit Iran to review grounds for cooperation. 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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Source: FARS News Agency

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