Indonesia contributes to reverse linkage program: IDB

Jakarta (ANTARA News) - Indonesia has significantly contributed to the mechanism for technical cooperation at the Islamic Development Bank (IDB) by supporting member states through reverse linkage, IDB President Ahmad Mohamed Ali Al-Madani said.

IDB is also committed to supporting the Indonesian government in facing a wide range of development challenges, particularly in infrastructure development, poverty eradication and quality improvement, he said during a press conference held on the sidelines of IDBs annual session here on Monday.

"IDB and the Indonesian government are also cooperating in improving the financial system in Indonesia," Al-Madani said.

He noted that IDB is also providing member states and non-member states with technical assistance to create a system to support sharia compliant financial growth.

"In 2015, IDB launched 36 assistance programs in seven member states and 29 non-member states. Of the total, 10 were intended for emergency assistance for seven member states and three non-member states, with a value of US$6 million," Al-Madani added.

Meanwhile, IDB Chief Economist Savas Alpay said the bank also provides loans and assistance to expedite social and economic development among member states.

"IDB always assesses a wide range of activities related to funding sources, capacity building programs, financing, cooperation and contributions to sharia financial services," he said.(*)