IDB President: Iran Major Supporter Of IDB

Mashhad, Jan 28, IRNA - President of the Islamic Development Bank (IDB) Ahmad Mohammad Ali said on Sunday that the Islamic Republic of Iran is the IDBˈs major financial supporter. He made the remarks in a special ceremony to introduce initiatives for executive operations and signing MoU between IDB and ECO bank in Mashhad. Iran has invested dlrs 5.7 billion in IDB by the year 2012, he said. Iranˈs significant financial supports helped IDB double its activities within past five years, he said. Mohammad Ali gave a brief report on IDB operations contributing to the member states development projects to eradicate poverty, create jobs and inject fund to national programs to fight contagious diseases. He said that foreign and domestic banks can implement wide-scale programs to help promote economic development in Iran benefiting from natural resources as well as the countryˈs rich sources. IDB has allocated dlrs 85 billion financial support to the member states, he said. Mohammad Ali praised Iranˈs leading role in implementing development projects in Central Asia and the Middle East region. He thanked Iranˈs prominent role to build infrastructural projects in the regional states./end