In brief
The Islamic Development Bank Group (IsDB) participated in the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation in Istanbul, presenting reports on the Islamic Solidarity Fund for Development and the Special Program for the Development of Africa. The group highlighted flexible financing solutions that benefit member states and promote sustainable economic growth. The session, chaired by Turkey, gathered delegations from OIC member states to discuss trade risk mitigation and economic cooperation.
On October 31, 2026, the IsDB Group arrived in Istanbul for the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), which will run to November 3 under the chairmanship of Turkey.
Delegations from all OIC member states and joint Islamic action institutions were present, and the IsDB Group took the floor to deliver official reports on its key joint initiatives.
The bank presented its performance overview of the Islamic Solidarity Fund for Development and its Special Program for the Development of Africa, emphasizing the role of these programs in providing flexible financing and credit options for member states.
According to the SPA report, the IsDB Group highlighted that these financing solutions help mitigate trade risks and facilitate the flow of goods and services, thereby supporting sustainable economic growth across the OIC.
Beyond the IsDB’s contributions, the session focused on trade risk mitigation and broader economic cooperation among OIC members, reinforcing the agenda of promoting joint development within the Islamic world.