Islamic Development Bank pledges $800m to boost economies of 7 developing countries

Updated 18 October 2017

Islamic Development Bank pledges $800m to boost economies of 7 developing countries

WASHINGTON: The Islamic Development Bank (IDB) has signed agreements worth $804 million with seven countries in Africa and Latin America in order to help boost their economies.
The agreements, which came on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund in Washington, cover several infrastructure projects in the areas of energy, housing, agriculture and water supply.
The agreements were signed by Bandar Hajjar, the chairman of IDB Group, and the finance ministers of Burkina Faso, Ivory Coast, Senegal, Mali, Guinea, Tunisia and Suriname during a ceremony organized by the IDB in honor of members of the board of governors in Washington.
“These projects will help address the development challenges facing our member countries, and will contribute significantly to job creation and create a favorable environment for public and private sector growth,” said Hajjar.
He stressed that the IDB believes that any citizen of the member states must have decent living conditions and that “the bank looks forward to further constructive partnership with member states in order to build a prosperous future for the peoples of these countries.”
Projects covered in the agreements include the Cocody Bay and $265 million in vocational training projects in Ivory Coast. They also include the Sirakoro power plant in Mali, with a value of $166 million, and the $138 million Promoville housing project in Senegal.
Other funded projects were a $16 million rural water supply project in Guinea, a $104 million power plant project in Burkina Faso, an $80 million subsidization of the Tunisian agricultural sector, and a $35 million affordable-housing project in Suriname.

Saudi Arabia to send Syrians an additional $100 million of humanitarian aid

Updated 26 April 2018

Saudi Arabia to send Syrians an additional $100 million of humanitarian aid

  • Total relief provided by the Kingdom since the war began now stands at about $1billion
  • Latest package announced by Foreign Minister Adel bin Ahmed Al-Jubeir at conference in Brussels

JEDDAH: Saudi Arabia will provide an additional $100 million of humanitarian aid to alleviate the suffering of the people of Syria, through the King Salman Humanitarian Aid and Relief Center.

The announcement of the latest aid package was made by Minister of Foreign Affairs Adel bin Ahmed Al-Jubeir on April 25 at an international conference on the future of Syria and the region, held in the Belgian capital Brussels. He pointed out that the meeting comes after the suspected chemical attack in the city of Douma, in eastern Ghouta, which killed dozens of civilians, including women and children.

“The world is facing a regime allied with terrorist militias who believe that spreading atrocities and committing crimes will bring victory to it, and that war crimes are bearing fruit,” said Al-Jubeir. “In addition to bombing civilians with explosive barrels, the policies of starvation and siege, ethnic and sectarian cleansing, and the demographic change of Syrian cities and towns, its use of chemical weapons have shocked the entire world.”

He said that the only acceptable solution to the Syrian crisis is a peaceful political resolution, and that Saudi Arabia has been working to achieve this since the crisis began, while also working with others to end the continuing human tragedy in the war-torn country.

The Kingdom has played a role in unifying the ranks of the Syrian opposition and encouraging them to speak with one voice, he added. After the Riyadh 1 Conference in 2015, Saudi Arabia hosted the Riyadh 2 conference for the Syrian opposition in November 2017, which succeeded in unifying the factions and establishing a negotiating body to take part in the rounds of talks held since then, earning praise from the United Nations.

The foreign minister also reiterated his country’s support for the efforts of the UN secretary-general’s envoy, Stephan de Mistura, to resume negotiations between all sides of the conflict.

“The Kingdom hopes that the agreements endorsed by the international resolutions on the ceasefire and the delivery of humanitarian aid to its beneficiaries will be implemented throughout Syria, regardless of their ethnic, religious, sectarian or political affiliations, and calls for the speedy release of detainees and abductees and clarifying the situation of those absent,” said Al-Jubeir. “It also renews its demand to punish individuals and institutions for war crimes and to prevent their impunity.”

He added that the worsening humanitarian crisis affecting refugees inside and outside of Syria should add to the urgency of finding a political solution and resuming the negotiating process as soon as possible.

Since the war began, the Kingdom has taken in about two and a half million Syrians and treats them like its own citizens, Al-Jubeir said, providing them with free health care, work and education. Saudi universities and schools have more than 140,000 Syrian students. He added that Saudi Arabia is also supporting and helping to care for of millions of Syrian refugees in Turkey, Jordan and Lebanon, in coordination with the governments of those countries. The humanitarian assistance provided so far totals about $1 billion.