Kuwait City: Kuwaiti Minister of Finance, Minister of State for Economic Affairs and Investments Eng. Noura Sulaiman Al-Fassam revealed at the Islamic Development Bank (IsDB) meeting on Wednesday that Kuwait provided over USD 980 million in contributions to 63 projects since joining the bank.
According to Kuwait News Agency, the Kuwaiti minister led her country's delegation to the 50th annual ministerial meeting of the Board of Governors of IsDB held in Algeria. Al-Fassam highlighted Kuwait's active participation in discussions focused on empowering youth, entrepreneurs, and enhancing economic diversity. She noted the emphasis on building resilient and inclusive economies capable of adapting to global changes by strengthening the role of multilateral institutions and expanding cooperation.
Al-Fassam pointed out that youth make up approximately 18 percent of the total population of OIC countries and represent about 30 percent of the world's youth population, underlining their empowerment as a pressing development and economic necessity.
Kuwait's founding membership in the IsDB since August 12, 1974, underscores its commitment to fostering Islamic economic cooperation and achieving integration among member states, Al-Fassam stated.
The meeting featured interactive sessions addressing the empowerment of entrepreneurs, the potential of youth, and equipping them with future skills, aiming to build a more inclusive and sustainable future. Key items included the adoption of the 49th Annual Report for the fiscal year 2024, ratification of the final accounts of affiliated institutions, and the election of the Chairman and Vice-Chairmen of the Board of Governors for the 2026 session.
The meetings concluded with the announcement of the date and venue for the 51st Annual Meeting of the Board of Governors in 2026.