"The 57 members of the IDB face a lot of challenges, but there is hope and there are opportunities that member countries will progress and develop. I am convinced the meeting this time will produce positive results," he said in his speech.
The meeting, in fact, had begun on Sunday and was to be officially opened by the vice president only on Monday, though it was later postponed to Tuesday.
Among those seen attending the opening ceremony were Finance Minister Bambang Brodjonegoro, Bank Indonesia governor Agus Martowardojo, former president BJ Habibie and economic and finance ministers of the 57 member countries of the IDB.
Through cooperation between the IDB and Indonesia, several initiatives have been achieved over the past few years.
Indonesia and IDB have been able to finish the first period of the Country Partnership Strategy cooperation program from 2011 to 2014 and successfully funded important areas in development, including in infrastructure and private sector.
"It is hoped that similar successes would be attained during the second phase from 2016 to 2020," Bambang said.
The IDB, since its establishment, has extended funds worth US$113 billion, including US$12 billion given last year.
In the second phase, MCPS cooperation with Indonesia has been worth US$5.4 billion.
"Cooperation is the main goal of the IDB. What is needed most now is joint action," IDB president Ahmad Mohammed Ali said.(*)