The Islamic Development Bank (IDB) and Asian Development Bank (ADB) have discussed ways to lessen the impact on their common member countries of the continuing global economic crisis and rising food prices. During their meeting at IDB headquarters here yesterday, IDB President Ahmed Mohammed Ali and ADB President Haruhiko Kuroda reaffirmed their commitment to enhance development efforts in member countries, in line with the Paris Declaration and the Accra High-Level Forum on Aid Effectiveness. They also called for stronger institutional and operational cooperation in line with the framework co-financing agreement signed between IDB and ADB in September 2008. The agreement calls on both institutions to provide up to $2 billion equivalent each over the next three years to finance projects in their common member countries, according to a report published today by the Jeddah-based Arab News. --MORE
