Presidents of Islamic Development Bank (IDB) and World Bank, Dr. Ahmad Mohammad Ali and Jim Kim respectively, agreed to build a bilateral partnership geared to promote development in various fields particularly education.
The two institutions will work out a program for reviewing the educational systems of their member states, according to a statement released by the IDB after the meeting of the two men on Monday.
During his visit to the IDB headquarters in Jeddah, Kim was briefed in detail on the achievements, programs and future plans of the IDB Group.
He commended the achievements of the Group and invited Dr. Ali to join him and the UN Secretary General Ban Ki-moon on a visit to Somalia next year.
The visit, the first such joint mission, aims to coordinate the development efforts in the Arab country, the statement noted.
Kim and Dr. Ali reviewed the progress of cooperation between their two groups and highlighted the need to scale up financing for development in the Arab countries particularly those undergoing transition.
They also discussed the Deauville Partnership with Arab Countries in Transition, an international effort launched by the then G-8 at the Leaders Meeting in Deauville, France in 2011.
The IDB and the World Bank highlighted the need to join forces in the combat against such epidemics as malaria and polio, intensify support to the developing countries in Africa, back up the regional integration endeavors, improve the Islamic banking system, and support the private sector in their member states. Cooperation between the two institutions dates back to 1976 which they agreed to jointly pump up to USD seven billion into more than 70 development projects in 26 countries in Africa, the Middle East and Asia