In brief
During the 42nd COMCEC ministerial session in Istanbul, the Islamic Development Bank Group highlighted its work on the Islamic Solidarity Fund for Development and the Special Program for the Development of Africa, offering flexible financing solutions to member states. The meeting, chaired by Turkey, focused on trade risk mitigation and fostering economic cooperation among OIC member states.
The Islamic Development Bank Group attended the 42nd ministerial session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul from October 31 to November 3, 2026.
According to the Saudi Press Agency, the IsDB Group presented reports on how it is implementing major joint programs, most notably the Islamic Solidarity Fund for Development and the Special Program for the Development of Africa.
These programs provide flexible financing solutions and credit initiatives that help member states fight trade risks and encourage the flow of goods and services.
By offering such financing, the IsDB Group aims to stimulate sustainable economic growth in the region.
The session was chaired by Turkey, bringing together delegations from all OIC member states and institutions working on joint Islamic action.
Participants discussed ways to improve trade cooperation and reduce risk for businesses across member states.
The meeting underscored the importance of joint finance initiatives in building stronger economic ties within the Islamic world.
Members confirmed that the IsDB Group’s role will continue to support development projects and provide financial tools that help navigate global economic challenges.