Hamdan bin Rashid Al Maktoum meets IDB President

JEDDAH: H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and U.A.E. Minister of Finance has met with Dr. Ahmed Mohamed Ali, President of Islamic Development Bank (IDB) in Jeddah, during the 39th Annual Meeting of IDB.

During the meeting, Sheikh Hamdan bin Rashid Al Maktoum and Mr. Ali discussed joint initiatives of U.A.E. and IDB, and U.A.E.’s contribution to the bank s capital.

Sheikh Hamdan bin Rashid also attended the signing of a new agreement between the Islamic Development Bank and U.A.E. to provide vital support to the International Centre of Biosaline Agriculture. The agreement was signed by Dr. Rashid Ahmed Bin Fahad, U.A.E. Minister of Environment and Water and Dr. Ahmed Mohammed Ali, President of IDB.

The new agreement extends the validity of the basic agreement signed between the two parties in 1996 for five years as from 1st January 2015 and keeps all the text, terms and provisions of the basic agreement unchanged.

Commenting on the signing of the new agreement, H.H. Sheikh Hamdan said, “U.A.E. has always been committed to backing initiatives for economic development worldwide based on its strong belief in the importance of creating a sustainable that contributes to reduce poverty rates and provide dignified living for all peoples.”