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Launching of the 44th Session of the Islamic Development Bank in Marrakech Other Services

07 Apr 2019| Posted by Morris | In Other Services

Marrakech-Anatolia: King Mohammed VI of Morocco said on Friday that member countries of the Islamic Development Bank (IDB) have made important strides and done much to rehabilitate their economies. This came during a letter from the Moroccan monarch to participants at the 44th Annual Meetings of the Bank, which opened Friday in Marrakech. He was followed on his behalf by his adviser Omar Kabbaj.

"Despite the positive results achieved by our countries, on the level of structural reforms in the financial and economic fields, these countries still have important steps to train their economies, achieve the goals of sustainable development, and social justice." "Most member countries of the Bank Group face real economic and social challenges, which are linked to the need to raise the pace of inclusive and sustainable growth, especially the rehabilitation of youth capacities and job creation," he said.

He called for giving special attention to financing infrastructure rehabilitation projects and encouraging the establishment of development projects that support economic integration among Islamic countries, especially in Africa, in various fields. "The magnitude of the challenges requires us today, through collective action, to strengthen the foundations of solidarity among the Islamic countries and to activate the transition to an economic model that can achieve development at all levels." "The gas pipeline project between Nigeria and Morocco is a model of South-South cooperation projects, which can be supported by the IDB Group, especially since most of the African countries that are interested in this project are members of the Bank Group."

Moroccan King Mohammed VI and Nigerian President Mohamed Boukhari headed the signing ceremony of the gas pipeline agreement between Nigeria and Morocco in mid-July 2018 at the Royal Palace in Rabat. The gas pipeline will extend over 5,660 km to more than one European country and is expected to be constructed in several stages to meet the growing need for the countries from which it will be deployed and Europe over the next 25 years.

Guinea, Ivory Coast, Liberia, Sierra Leone, Guinea, Guinea Bissau, the Gambia, Senegal and Mauritania before crossing the sea to Spain and Portugal. Participants at the 44th annual meeting of the Bank for Development and Development will discuss the theme "Transforming in a fast-changing world: the road to sustainable development goals". This includes discussing four key themes of the Bank's Five-Year Plan, which relate to public-private partnerships, science and technology and innovation, global value chains, and Islamic finance. The Bank is a multi-lateral development bank that works to improve life while promoting social and economic development in Muslim countries and communities around the world and to make a large impact. The bank has 57 member countries on four continents, based in Jeddah, Saudi Arabia, with headquarters in Morocco, Malaysia, Kazakhstan and Senegal, and intermediary offices in Egypt, Turkey, Indonesia, Bangladesh and Nigeria.

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