JEDDAH, 3 June 2008 — Experts from IDB’s member countries outlined the challenges they have been facing in implementing public-private partnership (PPP) programs at a seminar held here on Sunday. Also in focus were the PPP opportunities available in various countries.
Khaled Al-Aboodi, CEO and general manager of the Islamic Corporation for the Development of the Private Sector (ICD), said that the seminar was aimed at showing how public and private sectors could work closely together to forge partnerships. ICD, which organized the one-day seminar, is the private sector arm of the IDB (Islamic Development Bank). ICD was established in 1999 with the mission to finance private sector projects that contribute most to the development of its member countries. “ICD is also mandated to provide advisory and other services for promoting the private sector in its member countries,” Aboodi added.
Until last year, the number of ICD’s projects reached 127 totaling $803.8 million. Some 89 percent of ICD projects were financed through equity, leasing and installment sale. The geographic distribution of ICD projects is also quite diverse. ICD is now active in 23 member countries and the sectoral focus has been diversified of which industrial, financial and transportation areas have absorbed 70 percent of the total investment since its inception.
“PPPs are proving to be an innovative way to provide infrastructure and deliver infrastructure related services. However, they also present a number of challenges for public and private sectors,” he said.
Paul H. Noumba-Um, the World Bank Group’s lead economist at the sustainable development department for MENA region, focused on bridging the investment gap in infrastructure development in member countries through PPP projects.
Alassane Ba, African Development Bank’s manager at industries and services division of private sector department, dealt with the financial challenges of PPP projects. Rania Galal Zayed, advisor to the Egyptian ministry of finance, Aamir Qawi, head of the projects section at at the ministry of finance in Islamabad, and Nazrul Islam, executive director and CEO at the Infrastructure Investment Facilitation Center in Dhaka, also focused on the progress of PPP projects in their countries.
