(MENAFN - Arab News) On the margins of the 28th meeting of the Standing Committee for Economic and Commercial Coope-ration of the Organization of Islamic Cooperation (COMCEC) in Istanbul, the Islamic Development Bank Group (IDB Group) and Turkey signed a host country agreement to establish IDB's gateway office in Turkey.
The agreement was signed between IDB Group President Ahmad Mohamed Ali and Turkey's Deputy Undersecretary of Treasury and IDB Alternate Governor for Turkey Burhanettin Aktash.
The agreement is the first of its kind for establishing a chain of gateway offices in IDB member countries to develop sustainable cooperation between the bank and member countries as well as to promote IDB's program for partnership strategy with these countries.
This initiative is indicative of the importance IDB attaches to Turkey's role in supporting the implementation of the bank's development agenda for its member countries. The opening of the gateway office in Turkey is expected to accelerate transfer of Turkey's expertise in various fields of economic activity to IDB's Least Developed Member Countries (LDMCs).
Meanwhile, the IDB Group is taking part in the 14th MUSIAD (Turkey's Independent Industrialists' and Businessmen's Association) International Exhibition and the 16th IBF (International Business Forum) Congress, which kicked off on Thursday and ends today (Sunday).
The IDB Group on Friday delivered a presentation on its activities and operations in member countries particularly on its services to the private sector.