IsDB to invest on eliminating food supply problems: Nebati

The Islamic Development Bank (IsDB) Group works to eliminate problems in the food supply and boost green investments, Türkiye’s treasury and finance minister has said.

Nureddin Nebati noted at the group’s annual meeting in Egypt that almost half of the bank’s members are from low-income countries and that the bank is taking steps to meet their needs.

While the coronavirus pandemic disrupted supply chain, food prices have also risen globally for reasons related to the ongoing Russian-Ukrainian war, he said on Friday.

Nebati said the world economy, which was in a slowdown during the pandemic, will accelerate.

Touching on his country’s position in the Islamic Development Bank Group, he said the lender is an important institution with an AAA credit rating and that Türkiye is among its strongest members.

Government ministers joined the annual meeting, he noted, adding that productive bilateral talks between countries had taken place there.

The meetings are a chance to spread information on the Turkish economy and learn about the demands and expectations of other countries, he said.

Nebati underlined that Türkiye’s presence and weight are felt very clearly in the meeting, thanks to its success, especially in the last two years during the pandemic, which not only Islamic countries but also world countries watched closely.

“While the world contracted in 2020, Türkiye positively differentiated and grew, by 1.8%. It also grew last year, and despite the war (Ukraine), it showed the same success in the first quarter of this year. It seems that this growth will continue,” he said.

This success has aroused curiosity, he said and added that the fact that Türkiye is at the forefront of investable countries makes it attractive to other countries.

Another point that has attracted investment to Türkiye is the country’s rapid economic environment, said the minister, with the country’s laws, regulations, and especially of economy administration under the leadership of its President Recep Tayyip Erdogan seriously affecting investors’ decisions.

Productive bilateral meetings

On the contents of bilateral meetings at the conference, Nebati said some online talks had already begun and that Türkiye had forwarded messages to other countries.