Istanbul, Türkiye – Uganda joined fellow member states of the Organisation of Islamic Cooperation (OIC) at the opening of the 41st Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC), held in Istanbul under the leadership of President Recep Tayyip Erdoğan.
Uganda’s delegation was led by Mrs. Jackline Nyiracyiza Besigye, Commissioner for Museums and Monuments at the Ministry of Tourism, Wildlife and Antiquities (MTWA). She was accompanied by officials from the Ministry of Foreign Affairs, the Ministry of Finance, Planning and Economic Development, and the Ugandan Embassy in Türkiye, underscoring Uganda’s commitment to advancing intra-OIC economic cooperation and shared development goals.
During the session, H.E. Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, reaffirmed the Bank’s continued support for member states affected by conflict and emergencies. Highlighting the theme, “Developing Export Strategies in OIC Member Countries,” he called for stronger intra-OIC trade, enhanced competitiveness, and deeper collaboration through innovation, digitalisation, and market diversification.
Dr. Al Jasser emphasised that the IsDB’s new Ten-Year Strategic Framework (2026–2035) prioritises trade, investment, and economic integration. He noted the Bank’s growing development financing, which increased from US$ 1.67 billion in 2020 to US$ 5.11 billion in 2024, bringing cumulative approvals to US$ 204 billion by mid-2025.
He also highlighted major achievements of IsDB Group institutions. The International Islamic Trade Finance Corporation (ITFC) has approved US$ 89 billion in trade financing since inception, including US$ 7.3 billion in 2024 and US$ 6.2 billion by mid-2025, with significant support for least-developed countries and women-owned enterprises. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) insured US$ 12.9 billion in 2024, raising cumulative insured business to US$ 121.2 billion, much of it supporting intra-OIC trade.
Commending Türkiye’s leadership as a top OIC exporter, Dr. Al Jasser encouraged member states, including Uganda, to leverage Türkiye’s expertise through the IsDB’s Reverse Linkage Program. He reaffirmed the Bank’s commitment to supporting COMCEC and strengthening member states’ institutional and economic capacities.
