le rôle de l’Algérie dans la promotion de la coopération Sud-Sud mis en avant
Summary of the Islamic Development Bank Annual Meetings in Algiers
The Islamic Development Bank (IDB) is hosting its annual meetings in Algiers, which began with technical discussions emphasizing Algeria’s significant role in fostering South-South cooperation and enhancing economic collaboration within the Islamic world. Notably, this marks the third time Algeria has been chosen to host such an event, highlighting the nation’s achievements in development and economic diplomacy.
Recognition of Algeria’s Role
Babacar Diagne, President of the Senegalese Business Council, praised the IDB’s decision to hold the meetings in Algeria, asserting it as an acknowledgment of Algeria’s central position in promoting South-South cooperation. He articulated that the forum is particularly focused on the development of Southern nations, emphasizing the necessity for innovative policies that boost the quality of life for Africans while allowing them to fund their own projects, free from foreign interference.
Strategic Importance of Algeria
Bassam Sowa, the Regional President for Africa, Sub-Saharan Africa, and Europe at the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)—a subsidiary of the IDB—also acknowledged Algeria’s strategic positioning in Africa and its proximity to Europe. He noted that this geographical advantage is critical for encouraging investment flows and enhancing Algeria’s political influence in the region.
Mahmoud Hussein Khellif, Director of Underwriting Operations at ICIEC, remarked that the assembly represents a crucial opportunity for IDB affiliates and partners to understand Algeria’s investment climate. It also serves as a platform to become acquainted with the Algerian government’s development programs, which facilitate project implementation.
Strengthening Economic Ties
Khellif highlighted the ongoing partnership between Algeria and the IDB, emphasizing efforts to position Algeria as a prime destination for foreign direct investments. He specifically mentioned prospects for collaboration in areas like the pharmaceutical industry and metallurgy, which show significant potential for growth.
Aamir Mir, Director of Procurement and Financial Management at the IDB, noted the importance of Algeria’s role within the bank, predicting that it would continue to evolve positively. He emphasized that the historical assemblies aim to develop a constructive strategy for the next decade, including measures to aid the 22 least developed member states.
Assembly Program Overview
The IDB’s annual meetings, under the patronage of President Abdelmadjid Tebboune, are scheduled to run until May 22, 2025. The agenda includes various closed-door sessions where technical and organizational aspects of the general assemblies will be addressed. The goal is to outline priorities and key discussion points for the forthcoming substantial debates, engaging high-ranking officials and experts from 57 IDB member countries.
Overall, the assembly is pivotal not only for reinforcing Algeria’s role as a leader in Islamic economic matters but also for enhancing regional cooperation and investment across member states, paving the way for sustainable development initiatives in the Islamic world.
