Africa Witnesses the Largest International Islamic Economic Gathering Next Week
Posted in
Habari na Jicho Pevu la Kijiwe
No comments
Monday, June 8, 2015
By
danielmjema.blogspot.com
If you cannot read that message, click here.
APO content is copyright free and can be republished at will.
The 40th Annual Meeting of the Board of Governors of the Islamic Development Bank Takes Place in Maputo
MAPUTO, Mozambique, June 4, 2015/ -- Dr Ahmad Mohamed Ali, President of the Islamic Development Bank Group (http://www.isdb.org),
has stated that preparations are in full swing at the IDB Group for its
annual meeting, which is scheduled to take place this year, Allah
willing, in Maputo, Republic of Mozambique at the kind invitation of the
Government of Mozambique. This is the first time the meeting of the IDB
Board of Governors is taking place in the southernmost part of Africa,
to which the IDB gives priority in its development programs and plans.
The meeting has taken place several times in the past in a number of
member countries in the west, east and north of the continent thereby
indicating the IDB's firm commitment to supporting developmental efforts
on the continent.
In
his statement, Dr. Ahmad Mohamed Ali indicated that the meeting, which
starts on Wednesday 23Sha’aban 1436H (10July 2015), would take place
under the patronage of His Excellency Filipe Nyusi, President of the
Republic of Mozambique and would be attended by ministers and senior
officials of the Government of Mozambique as well as by the Ministers of
Finance and Economic Affairs of the 56 IDB member countries. The
meeting and its side events will also be attended by a large number of
representatives of the public and private sectors in member countries,
international and regional financing institutions, Islamic banks, the
federations of contractors and consultants as well as national
development banks and funds in Muslim countries.
The
meeting of the Board of Governors will consider a number of important
items and reports on its agenda such as a report on the Ten-Year
Strategic Framework of the IDB Group, which was approved by the Board of
Governors last year in Jeddah with a view to helping the IDB Group
react more effectively to social and economic developments in its member
countries. The agenda also comprises items on the consideration of the
40th Annual Report of the IDB and the approval of the IDB annual audited
accounts, programmes and specialised funds.
In
addition to the 40th Annual Meeting of the IDB Board of Governors, the
annual meetings of the members of the IDB Group will also take place.
They are the Islamic Corporation for the Insurance of Investment and
Export Credit (ICIEC), the Islamic Corporation for the Development of
the Private Sector (ICD), the International Islamic Trade Finance
Corporation (ITFC) and the Islamic Solidarity Fund for Development
(ISFD).
The
President of the IDB Group further stated that this year the meeting
would coincide with the ICD's 15th anniversary, whose General Assembly
is expected to consider a proposal to double its authorised capital and
its capital open for subscription. Since its inception, the ICD’s
authorised capital has been USD 2 billion and the capital open for
subscription USD 1 billion.
Among
the side events of the Annual Meeting are symposia for the discussion
of issues of developmental significance to IDB member countries such as
"Lessons Learned from the Ebola Outbreak in West Africa", "The Role of
the Coordination Group and Regional Development Institutions in
Developing the African Continent", “The Role of Trade in Strengthening
Economic Cooperation and Regional Integration among IDB Member
Countries”, "Knowledge Management in Multilateral Development Banks",
"The Role of Islamic Finance in Promoting Prosperity and Inclusive
Development" and "Enhancing the Construction Industry in IDB Member
Countries". Also taking place is the 10th Global Islamic Finance Forum
entitled “Exploring Innovative Solutions for Affordable Microfinance in
Africa".
It
is worth indicating that the Republic of Mozambique became a member
country of the IDB in November 1995 and has ever since maintained good
ties of cooperation with the IDB Group. The overall amount approved to
date by the IDB Group for projects in Mozambique stands at
approximately USD 208 billion including contribution to a number of key
development sectors such as agriculture, education, energy, health and
roads. Financing is also extended to external trade operations as part
of the IDB Group's efforts to promote trade among its member countries.
After
the closing session of the Annual Meeting of the Board of Governors, a
number of financing agreements will be signed, followed by a joint press
conference by H.E. the Minister of Economic Affairs and Finance IDB
Governor for the Republic of Mozambique and H.E. the President of IDB
Group.
Habari Zingine
Mjulishe Mwenzako
0 MAOINI :