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IDB President in Dhaka

Published : Saturday, 8 September, 2018 at 12:00 AM  Count : 127

Islamic Development Bank (IDB) President Dr Bandar M H Hajjar arrived in Dhaka on Friday on a four-day visit to inaugurate a regional hub.  
Prime Minister Sheikh Hasina is expected to formally inaugurate the regional head office as a chief guest on Sunday at Hotel Radisson, said a press release of Economic Relations Division (ERD).  
The Islamic multilateral development financier is currently represented in Bangladesh by a field representative office.
According to sources, Bangladesh was the fourth largest recipient of the IDB financing in 2017 receiving funds worth US$ 900.6 million. The amount was 9.2 per cent of the total IDB financing that year.
Establishment of the regional hub in Dhaka is expected to give a major push to the IDB activities in Bangladesh as well as help speed up its decision-making process.
At present, the Dhaka office needs to take final nod from its Jeddah headquarters for its activities in Bangladesh.
A regional hub manager will head the Dhaka headquarters which will cover three IDB member countries - Bangladesh, the Maldives and Afghanistan as well as a number of non-member countries like India and Myanmar.

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