Ministry of Finance calls on Islamic Development Bank to finance export-oriented projects

Ministry of Finance calls on Islamic Development Bank to finance export-oriented projects

05-23-2016, 04:18 PM


Post: #1
Title: Ministry of Finance calls on Islamic Development Bank to finance export-oriented projects
Author: Sudan News Agency
Date: 05-23-2016, 04:18 PM

05:18 PM May, 23 2016

Sudanese Online
Sudan News Agency-Khartoum-Sudan
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Khartoum, May 22 (SUNA) - The Minister of Finance and Economic Planning Badr-Eddin Mahmoud has emphasized the great role of the Jeddah-based Islamic Development Bank (IDB) in financing the development projects of positive impact on the economy in Sudan.
This came in a meeting with the Executive Director of the Islamic Development Bank Dr. Mohamed Ahmed Hassan Al-Afundi and the Director of the Bank's Operations in Sudan Samir Yousuf Al-Issawi in the presence of a number of the officials at the Ministry of Finance at the International Cooperation Tower Sunday.
The minister expressed their readiness to provide priority projects to support production and exports in the framework of President Al-Bashir Initiative for Arab Food Security, praising the extended relationship with the Islamic Development Bank, calling on the bank to speed up the withdrawal requests of existing projects including hospitals, water harvesting projects and engineering faculties projects at the universities of Gezira and Omdurman Islamic University.
Mahmoud reiterated the government's keenness on the strategic partnership with the Islamic Development Bank under its new administration, explaining that their priorities include social development projects, technical and humanitarian assistance for hospitals and the cancer hospital equipment as well as the wheat project.
Referring to the reimbursement of Sudan's obligations towards the bank, pointing out that Sudan is the one of countries least benefiting from the bank's institutions in the recent period, indicating that the micro-finance has become one of the new brilliant chances, calling on the bank to resume its financing activity to enable Sudan to benefit from its subordinate institutions in finance and trade.
For his part, Dr. Al-Afundi praised the close relations between the bank and Sudan, stressing that Sudan was one of the first founding countries of the Bank, explaining that the size of the financing operations of the Bank in Sudan amounted to 2.75 billion dollars since its inception.
Dr. Al-Afundi revealed that the Bank would increase its operations in Sudan in the coming period in the socio-economic development to enable Sudan to reach the desired development level, pointing to the importance of the relationship with Sudan to establish a strategic partnership.
He urged Sudan to prioritize the projects and to push the relations forward, calling for communication with the bank in the technical and strategic issues for the development of mechanisms that enable it to take advantage of the IDB resources, hoping that the visit to be a key to the relationships and to push them for further horizons to make Sudan attaining financing from the bank.

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