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.

FaceOf: Fahad bin Sulaiman Altekhaifi, president of the General Authority for Statistics 

Updated 22 August 2018

FaceOf: Fahad bin Sulaiman Altekhaifi, president of the General Authority for Statistics 

Fahad bin Sulaiman Altekhaifi has been the president of the General Authority for Statistics (GASTAT) since his appointment to the post in May 2016.

On Monday GASTAT announced this year’s Hajj statistics, revealing detailed information on the number of pilgrims (which amounted to 2,371,675) performing Hajj this year, their genders, nationalities and whether they arrived through air, land or seaports.

The president conveyed his gratitude to all government and security entities that helped the authority to collect data, and praised the 450 GASTAT researchers who worked to compile the information and deliver it to the public.

He said that the collected data would help facilitate better experiences and easier pilgrimages for future programs, and better services for pilgrims — from social to health, and transportation to security and food.

Altekhaifi received his bachelor’s degree in mathematics from King Saud University in 1992, a master’s degree in statistics from Colorado State University in 1996, and his applied statistics and research methodology Ph.D. from the University of Northern Colorado in 2001.

He worked as a manager of a financial program at the Institute of Public Administration in Riyadh from 1993 to 2005. For two years after that, he was a project director at the EIS department in Zuhair Fayez Partnership Consultants.

In 2007, Altekhaifi was appointed a manager of the research department at the Capital Market Authority, before becoming assistant deputy minister for development in November 2011. 

In June 2015, he was the director general of the Central Department of Statistics and Information. He served as the acting president of GASTAT in February 2016, before being appointed president on May 2016.