About Islamic Development Bank:
- It is a multilateral development bank (MDB), working to improve the lives of those they serve, by promoting social and economic development in Member countries and Muslim communities worldwide.
- It provides long term sustainable and ethical financing structures for their project investments.
- Membership- The basic condition for membership is that the prospective member country should be a member of the Organization of the Islamic Cooperation (OIC).
- The present membership of the Bank consists of 57 countries.
- India is not a member.
- Area of operation: The work of the IsDB can be seen around the world, with operations in four core regions:
- Asia and Latin America;
- Europe and Central Asia;
- Middle East and North African;
- Sub-Saharan Africa.
- They also provide support to Muslim communities in non-member countries, including those afflicted by conflict and natural disasters.
Mission:
- Work for people to live in dignity and prosperity, and that nurturing economic growth is the best route out of poverty.
- Equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential.
- Build collaborative partnerships between communities and nations, across the public and private sectors.
- Foster innovative and sustainable solutions to the world’s greatest development challenges, and work towards the UN Sustainable Development Goals.
