The Executive Director of the IMF, Mr. Jafar Mojarrad Visited ECO Bank on October 1, 2009 

10/1/2009 

 


The Executive Director of the IMF, Mr. J. Mojarrad and his Senior Advisor, Mr. E. Uddin Ahmad visited ECO Trade and Development Bank on October 1, 2009. The President of the Bank Mr. M. Ulus gave brief information to the IMF Executive Director about the financial activities of the Bank towards the ECO Region.

 

It was emphasized that the ECO Region retains an immense potential for economic growth, but its infrastructural development needs to be supported especially by the International Financial Institutions and, as one of the major player which enjoys this priority, the ECO Bank is required to give more importance to support infrastructural projects for the Region.

 

It was also mentioned that to increase the intra-regional trade among the ECO member countries could be an alternative solution to overcome the negative effects of the global economic crises and the Short Term Trade Facilities of the ECO Bank constitute a suitable tool for improving volume to trade in the region.