EUROPOLITICS / External relations
The Islamic Development Bank and the European Investment Bank signed, on 9 Februay, a memorandum of understanding, agreeing to cooperate in projects, particularly in the Mediterranean. The EIB and ISDB will consult on priority areas and modalities of cooperation to work together and contribute to the overall development and social progress with initial focus on four pilot countries: Egypt, Jordan, Morocco and Tunisia. Their cooperation will include: consultation and sharing of information; developing expertise and knowledge in the region; network building; and facilitating the identification, preparation and co-financing of projects. The ISDB is an international financial institution established by the Conference of Finance Ministers of Muslim Countries in 1973 with a view to fostering the economic and social development of its member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Law.
