IDB chief calls for stronger cooperation with Nigeria

Islamic Development Bank (IDB) President Ahmed Mohamed Ali has called for stronger cooperation with Nigeria. He stated this during an interactive session with a delegation from Nigeria’s Senate and House of Representatives, led by Yerima Ngama, Nigeria’s IDB governor and minister of state for finance.
Ali told the Nigerian delegation that he was happy with their visit and hoped that this will strengthen the relationship between IDB and Nigeria.
In his remarks, Ngama said Nigeria “wants to maintain its current position” of being among the top 10 shareholders in IDB. Aside from Indonesia and Pakistan, Nigeria has the largest population among IDB member countries and therefore the country is in need of IDB projects, he added.
“During the financial crises, IDB was not affected,” Ngama said while commenting on the strength of IDB as a financial institution.
The Nigerian delegation attended a special session led by IDB Vice President (operations) in which success stories of IDB projects in agriculture and microfinance were presented.
Hani S. Sonbol, deputy CEO of International Islamic Trade Finance Corporation (ITFC), one of the entities in the IDB Group, told the visiting delegation that there is an excellent relationship between ITFC and Nigeria. He stated that $ 320 million has been approved by the corporation for trade operations in Nigeria.