2023-05-12 14:21:38
ALGIERS- Finance Minister Laaziz Faid is taking part in the Annual Meetings of the Islamic Development Bank (IDB) group, which are taking place in Jeddah (Kingdom of Saudi Arabia) from May 11 to 13, a statement from the ministry.
Dedicated to the theme “Partnerships to face crises”, the 2023 edition of the IDB Meetings brings together the Ministers of Finance and Economy of the 57 member countries of the IDB and has the participation of several representatives of financial institutions. international and regional.
These meetings were an opportunity for senior officials specializing in the economic and financial sector from IDB member countries, “to discuss current issues and development challenges facing their countries, particularly in a context world marked by increased inflation and multifaceted crises,” the statement said.
In this context, it was underlined that “the repercussions of the Covid-19 pandemic, climate change as well as geopolitical disturbances have had serious impacts on the development processes of countries, risking to cause a widening of inequalities, deepening poverty, increasing food insecurity and rising unemployment,” the ministry said.
“The Governors of the IDB have agreed to strengthen South-South cooperation as a development tool for the region, emphasizing the socio-economic benefits it brings through intra-regional trade. and the exchange of experiences to face current challenges,” the statement added.
They, on this basis, “called on the IDB to play a more marked role in the development of cooperation relations between their respective countries and this, by putting in place innovative mechanisms capable of boosting this type of collaboration, in order to fill gaps in socio-economic development in the region and to lay the foundations for sustainable and more resilient growth”.
These meetings also made it possible to examine the activities of the IDB and its subsidiaries, in particular the adoption of annual reports, financial activities, closing accounts, administrative budgets and the appointment of auditors. They also provided an opportunity for the Governors of the IDB to discuss the Bank’s strategic prospects.
At the bilateral level, Mr. Faid met a number of his counterparts, in particular, that of Pakistan, with whom he discussed possible measures to be taken at the level of the decision-making bodies at the level of the IDB, to the effect to strengthen the functioning of this institution and maximize the benefits derived from its interventions in its member countries.
He also met his Libyan counterpart and the Minister of Planning of Egypt, with whom he discussed the current state and ways and means of further consolidating relations with these countries.
Mr. Faid also met with several officials of certain multilateral development institutions, such as the OPEC Fund for International Development (OFID), the African Development Bank (AfDB) and the African Development Bank. ‘Import-Export (Afreximbank).
The discussions mainly focused on “the promotion of intra-African trade and support for Algerian operators to strengthen their presence on the continental market as well as the consolidation of regional action to meet climate challenges”.
Finally, the Minister chaired the 23rd meeting of the High Council of the El-Aqsa and El-Quds Funds, during which he had to examine the progress of the various projects financed by these Funds. and adopted the related activity and financial reports.
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