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Today, Dr. Hala Al-Saeed, Governor of Egypt at the Islamic Development Bank Group, participated in the round table of the Bank’s Board of Governors entitled “Strengthening Partnerships between South Countries to Prevent Crises,” which was held during the activities of the annual meetings of the Bank Group in the Kingdom of Saudi Arabia during the period from May 10-13.
During her participation, Dr. Hala Al-Saeed praised the selection of the topic of the round table of the Board of Governors, which deals with the challenges faced by developing and least developed countries in the “Global South” within the current global context of complex crises, and highlights the importance of deepening joint efforts between this group of countries in the form of partnerships between them.
Al-Said stressed the necessity and importance of South-South partnerships as a critical enabler for the collective response to current global crises and for achieving the goals of the 2030 Agenda for Sustainable Development.
Al-Said indicated that in the face of global inflation and the restrictions imposed on access to traditional global financial markets, the Islamic Development Bank enjoys a unique set of comparative advantages, given that it is the only multilateral development bank, whose member countries include exclusively from the countries of the South and whose operations depend entirely on financing. Islamic Bank, stressing that these advantages can provide practical solutions to address some of the resource mobilization constraints facing member states.
The Minister of Planning and Economic Development added that the role of the Islamic Development Bank can be enhanced in sharing knowledge and exchanging experiences to enhance partnerships between the countries of the South. By sharing member countries’ innovations that can be learned from or replicated.
Dr. Hala Al-Saeed suggested during her participation in the round table of the Board of Governors of the Islamic Development Bank; Launching a common platform to showcase best practices and success stories in knowledge exchange supported by the Bank in member countries.
Al-Saeed also suggested that the bank coordinate to form a working group to ensure unification of efforts to localize industries in which the member states of the Islamic Development Bank enjoy competitive advantages in order to achieve integration among these countries and strengthen its position with various countries of the world that are a source of imports, especially in areas related to achieving Food security, medium, small and micro industries, which are an essential component for maintaining value chains, foremost of which is the expansion of green projects.
The Minister of Planning said that this can be mainly achieved through the efforts of the Islamic Development Bank, which can make the most of the large amount of human capital potential in the member states, by ensuring the best use of the comparative advantages enjoyed by each country, and thus embodying partnership opportunities. She stressed that Egypt, with its unique competitive advantages and its long experience in strengthening partnerships with neighboring African and Arab countries, is fully prepared to partner with the Islamic Bank in the field of knowledge and experience exchange. In this regard.
