Islamic Development Bank sets out roadmap to promote Arab-African trade

March 5, 2017

Riyadh, Mar 5: The Islamic Development Bank (IDB) is developing a roadmap to strengthen Arab-African trade over the next three years, according to Hakim Elwaer, IDB’s official spokesman.

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The roadmap includes identifying business opportunities and the areas of finance, building logistics platform, supporting trade, credit and insurance, and developing the necessary infrastructure to facilitate trade.

IDB President Bandar Hajjar and Mamoun Buhedod, minister delegate to the Ministry of Industry, Trade, Investment and Digital Economy in Morocco, inaugurated the Arab-African Trade Bridges (AATB) forum held in Rabat last month.

IDB’s support for development programs and infrastructure projects in Africa has reached more than $43 billion, which included funding for projects in infrastructure, according to IDB’s website.

Hajar added that the volume of trade financing granted to Arab and African member countries since the establishment of the International Islamic Trade Finance Corporation (ITFC), which is IDB’s trade financing arm, has reached about $15 billion.

This is in addition to cooperation with many strategic partners to design and implement programs for the development of trade among member countries.

Hajar urged Arab and Sub-Saharan African countries to take advantage of capacity development programs to be available thanks to the “Arab-African Trade Bridges” program over the next three years.

The participants in the forum and side events included trade ministers, directors of trade promotion agencies, presidents of the chambers of commerce and industry representing OIC Arab and Sub-Saharan African member countries as well as international financial institutions and banks.

A number of memorandums of understanding were signed between the main participants during the forum’s inauguration ceremony.

The initiative of the “Trade Bridges between Arab and Sub-Saharan African countries” forum was proposed by the ITFC during the seventh meeting of the Coordination Group to support cooperation in the field of foreign trade and export credit.

Besides ITFC, the Coordination Group includes the Arab Bank for Economic Development in Africa (BADEA), the Islamic Corporation for the Insurance of Investment and Export Credit (ICD), the Arab Trade Financing Program, the Arab Monetary Fund, the OPEC Fund for International Development, the Saudi Fund for Development and the Arab Investment & Export Credit Guarantee Corporation.

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News Network
November 12,2024

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The UN humanitarian coordinator for Lebanon has warned that the “picture of life in Lebanon remains grim,” highlighting an "alarming" level of human suffering and significant humanitarian consequences due to the ongoing Israeli carnage.

Imran Riza, the UN Deputy Special Coordinator and Resident and Humanitarian Coordinator for Lebanon (UNSCOL), provided a stark overview of the Arab country's dire circumstances in a statement released on Monday.

“The current picture of life in Lebanon remains grim. Yesterday, airstrikes reportedly killed 23 people, including seven children, in the village of Aalmat in Mount Lebanon,” Riza said on X.

An airstrike in the city of Tyre on the same day resulted in the tragic deaths of five siblings from a single family, all of whom had special needs, according to his statement.

He added that in the last week, Israeli airstrikes have killed at least 241 individuals and left 642 others injured in Lebanon, as reported by the Ministry of Health.

“In the past month, more than 185,000 people have fled their homes in their search for safety within the country, bringing the total to over 870,000 people internally displaced,” Riza said

The UN official highlighted that numerous individuals, including the elderly and those with health issues, are staying behind while witnessing the ruins of their ancestral homes.

He urged for the swift safeguarding of civilian people and infrastructure, emphasizing the necessity to uphold international humanitarian law and end the ongoing violence.

Lebanon’s National News Agency reported that Israeli forces bombed a house in the town of Maydoun in Bekaa on Monday night, killing three people and destroying the house.

Earlier, Israel bombed the northern town of Ain Yaaqoub, killing at least 14 people.

The killings came as Israeli military continued to pound Lebanon, bombing shops selling electrical appliances in the southern city of Tyre and carrying out air raids on the towns of Shamshtar in eastern Baalbek and Roumine in southern Nabatieh.

Lebanon’s Ministry of Health said Israeli attacks killed at least 54 people across the country on Monday.

Israel’s merciless attacks continue despite calls from the UN Security Council for an immediate ceasefire and directives from the International Court of Justice urging measures to prevent genocide and alleviate the dire humanitarian situation in Gaza and Lebanon.

In Lebanon, at least 3,243 people have been killed and 14,134 others wounded in Israeli attacks since the war on Gaza began on October 7, 2023.

The Lebanese resistance movement Hezbollah opened a support front for Palestinians in Gaza only a day after the Israeli regime unleashed its genocidal war on the besieged territory.

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News Network
November 7,2024

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The Israeli regime has killed at least 40 people during new airstrikes against eastern Lebanese areas, besides targeting the country’s capital Beirut with fresh acts of aggression.

Lebanon’s health ministry announced the fatalities on Wednesday, saying 53 other people had also been wounded during the aerial attacks that targeted the country’s Bekaa Valley, including the city of Baalbek.

In early Thursday, the regime was also reported to have attacked Beirut’s southern suburbs, including a site adjacent to Rafiq Hariri International Airport.

The attacks came after the regime issued short-notice evacuation orders apparently directed at the residents of the areas, claiming that the areas contained facilities belonging to Lebanon’s Hezbollah resistance movement.

Tel Aviv has been using similar claims on countless occasions since last October, when it markedly intensified its deadly acts of aggression against Lebanon, in order to try to justify the escalation. Hezbollah has, however, invariably refuted the claims.

Also on Wednesday, the United Nations warned in its most recent flash report on the humanitarian crisis caused by the Israeli atrocities targeting Lebanon that the aggression had “reached a critical point.”

The attacks have claimed the lives of more than 3,000 people, which was “58 percent more than the 1,900 fatalities” that were caused by the regime’s 2006 war against Lebanon, the report said.

“Additionally, an estimated 1.3 million people have been displaced, both within Lebanon and into neighboring countries, 33 percent more than the number of people displaced in 2006,” it added.

Women comprised the majority of those who had been rendered homeless within Lebanon as a result of the Israeli attacks, the report noted.

It also regretted that the Israeli attacks had featured 78 assaults on healthcare facilities across the country that had claimed the lives of 130 health workers and injured 111 others.

In response to the aggression, Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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