Jeddah-The 42nd annual meeting of the Islamic Development Bank (IDB) that was held on Wednesday in Jeddah has witnessed the signing of agreements with public institutions in Yemen and Tunisia.
The IDB confirmed during the meeting its participation in reconstructing troubled member states after they gain their stability.
The bank also revealed it will allocate $1.5billion to invest in the agricultural sector in Islamic countries.
Minister of Development, Investment and International Cooperation Fadhel Abdelkafi, acting Minister of Finance in Tunisia, told Asharq Al-Awsat that his ministry has concluded an agreement with the IDB in the fields of electricity, petroleum and trade finance.
Abdelkafi confirmed that the bank has been using all its potential for decades to reduce unemployment, especially for holders of higher degrees, and address poverty in member countries.
He said that the bank’s new approach in supporting development is the main goal of all the governments that was announced in early 2017 and will further contribute to the Bank’s development objectives.
In a press conference that was made on the sidelines of the fourth day of the 42nd annual meeting, Abdelkafi said that Saudi and Gulf investments that have been implemented in Tunisia since 1975 have contributed to establishing huge projects, pointing out the role of financial bodies in the gulf in supporting Tunisia in this field and to the special relation between his country and the Arab countries.
On the other hand, the Tunisian Minister referred to the new Tunisian investment law and the facilities offered to investors, explaining that the new law has come into effect in April 2017 and aims at promoting investment, competitiveness, export and technological content of the national economy and the development of priority sectors in Tunisia.
Regarding the issues that will be tackled in the next meeting of the Bank Group, Abdelkafi said that Tunisia’s approach always focuses on education, women, health and youth empowerment.
He stressed Tunisia’s support for the new approach of the Islamic Development Bank to achieve integrated and sustainable development.