With the aim of developing the pharmaceutical industry sector in their African member countries, the African Development Bank Group (AfDB) and the Islamic Development Bank (IDB) signed a partnership agreement on Thursday, February 16, 2023.

By highlighting the strengthening of the continent's health defense systems, the action plan signed by the banking groups Bad and Bid offers a new framework to strengthen cooperation and mutual development priorities. Indeed, Abdu Mukhtar, Director in charge of Industrial and Commercial Development of the Banque africaine de développement (BAD), and Idrissa Dia, director of the Economic and Social Infrastructure Department of the Islamic Bank of Dé Development (BID) signed this agreement at the headquarters of the Islamic Development Bank in Jeddah, Saudi Arabia.

The joint action plan allows the two institutions to develop a common pool of bankable projects, around complementary key axes, to which each would bring its comparative advantage.