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Islamic Development Bank

Volume 488: debated on Tuesday 24 February 2009

To ask the Secretary of State for International Development what recent discussions he has had with representatives of the Islamic Development Bank on development finance; and if he will make a statement. (256598)

I signed a Memorandum of Understanding with the Islamic Development Bank during my visit to Saudi Arabia in January 2009 with the aim of increasing co-operation in countries and sectors of mutual interest. This was the first agreement of its kind between the Department for International Development (DFID) and an Arab or Islamic development institution.

DFID has been increasing its engagement with the Islamic Development Bank over the last two years building a partnership around common aims. The Islamic Development Bank’s ‘Vision 1440H’ supports the achievement of the Millennium Development Goals.

In November 2008 DFID and the Bank launched a first joint project to deliver access to clean water and improved sanitation for 36,000 people in Al Howta City in Yemen. DFID and Bank officials are currently exploring new areas for co-operation.