IDB mobilizing funds to empower communities
The Islamic development Bank (IDB) is pursuing its plans to become a world-class organization.
The bank has been serving the Muslim world over the past four decades and will continue to serve the Muslim Ummah in times to come, says its Vice President Ahmet Tick Tick.
The new complex of IDB was established with a view to focusing on further promoting cooperation among its member countries and help them march toward the path of development, he told Arab news in an exclusive interview.
“Social dimension is one of our pillars of operation, and we are supporting their education system and health, and contributing to develop infrastructure and funds — Islamic funds — which are targeting to reach $10 billion,” he said.
“We have mobilized up to $2.3 billion so far to alleviate poverty in member countries,” said Ahmet Tick Tick, who wears two hats — one working for the IDB and the other in his capacity as the ambassador of the OIC (Organization of Islamic Cooperation).
“Every year, we hold a youth conference to better understand them and their problems. This year also we will celebrate youth entrepreneurship where several players will be invited from all over the world,” he said.
This is another social initiative, he said, adding that the bank has been helping Muslims all over the world for the past 40 years to preserve their culture and identity. For the development of its member countries, the bank not only provides finance but also assists them in capacity building, he said. “We are giving assistance to schools and health centers, particularly nursing centers, in more than 60 countries, which are not only members of the IDB but also of the OIC,” he said.
“I can proudly say that so far 4,000 doctors and 4,000 engineers, who graduated under the IDB scholarship program, are serving their own countries and communities,” he said.
According to him, the IDB began its operations from scratch, “but now when we look back and see the prevailing situation, we feel proud as we have capacity up to $5 billion to finance different projects with the help of 1,000 of our experienced and hardworking staff.”
Since 2000, IDB has been preserving its top ratings as it supports its member countries in their development efforts.
“It’s not easy for us to sustain; so far we have financed up to $98 million for trade and developing projects in the member countries in order to increase the inter trade, job opportunities, and other developing and sustainable projects,” he said.
“IDB is a working and functional institute. So far, we have extended finance for trade, development, microfinance, energy efficiency, sustainable development of villages, affordable solar power projects; the amount spent is almost $ 98 million. I fact, we are the only multinational bank,” he said.
“IDB is working closely with all major organizations in the world. IDB is introducing a new concept of developing projects. The idea is to introduce them in one country and help it extend them to another country that requires them. This way, we encourage countries help each other,” he said. The Kingdom also has several projects, he explained.
The bank will continue to play its role as a medium to find solutions to issues faced by member states.
The IDB also believes in changing the management program, which was introduced in 2009. The bank has since transferred its internal process and work to a new IT system.
The bank is a trusted partner in member countries and always provide a platform and engages the member countries in brotherly environment for any opportunity, he said.
The IDB also has a number of projects in the Kingdom such as the Adahi meat distribution project, which distributes meat of 1 million goats and sheep, and of 150,000 cows and camels to poor countries.
One of the projects undertaken by the IDB in the Kingdom is under the Haj Terminal Development Company (HTDC). This project was effectively completed in 2011 with a total cost of SR900 million.
Rabigh Refinery and Petrochemical Company, Yanbu National Petrochemical Company, Maaden Fertilizer Company, Jubail Refinery and Petrochemical Project and Sadara Petrochemical Complex are among the other projects.
“It has not been easy for us at the IDB. We did come across a number of obstacles but always overcame them. After all, it’s the task of the IDB to deliver help whenever needed by its brotherly member countries, and that trust is the base of 40 years of success,” he said.
IDB also engaged its staff and related organizations to build the culture of team effort and for that it organized cricket matches, family gatherings, exhibitions and entertainment programs under the leadership of the IDB president he said.
“Collaboration of the staff is the key to the success of the IDB, which can be seen in the 40 years of celebration, I would say the key role played by the president is exemplary. He offers unique leadership and is himself hardworking. He is the one who is leading this institution on international and national levels, and in the decades to come IDB will serve the Ummah with the same passion,” he said.