IsDB and UNDP Discuss Resilience and Financing in Senegal
What happened
The Islamic Development Bank Group and the UN Development Programme met in Bangkok to discuss coordinating development efforts in fragile and crisis-affected countries. During these talks, the Islamic Development Bank Group and Senegal reaffirmed their commitment to advancing economic recovery and sustainable growth. Furthermore, the Islamic Development Bank Group is exploring collaboration with Gulf International Bank on sukuk investments and Shariah-compliant solutions.
From arabnews.com
Why it matters
The discussions underscore efforts to enhance resilience and support recovery in member countries affected by crises. The Islamic Development Bank Group has previously approved $75 million for its Response, Recovery and Resilience Facility, which supports 32 fragile and conflict-affected member countries.
From arabnews.com
Who's involved
- SenegalSenegal, which reaffirmed its commitment to economic recovery and sustainable growth.
- Gulf International BankGulf International Bank, which the Islamic Development Bank Group is exploring collaboration with for sukuk investments.
- World Bank GroupThe World Bank Group, where the meetings took place on the sidelines of its annual meetings.
- International Monetary FundThe International Monetary Fund, which co-hosted the annual meetings in Bangkok.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- SenegalSpeculative
Senegal might gain access to new funding channels to support its economic recovery and sustainable growth.
- Gulf International BankSpeculative
Gulf International Bank could see new financing channels open through collaboration on sukuk investments.
Keep exploring
The entities involved
-
Bangkok
capital of Thailand
-
Senegal
country on the coast of West Africa
-
World Bank Group
group of five international organizations that make leveraged loans to developing countries