Mr. El Azami El Idrissi calls (IDB) to initiate more support to strategic sectors in member countries : 11/06/2015

Mr. El Azami El Idrissi calls (IDB) to initiate more support to strategic sectors in member countries

The Minister Delegate in charge of the Budget, Mr. Driss EL AZAMI EL IDRISSI, called, Wednesday, June 11th , 2015 in Maputo (Mozambique), the Islamic Development Bank (IDB) to commit more support to strategic sectors in member countries and accompany major projects.

Mr. El Azami who was speaking during the proceedings of the 40th Annual Meeting of the Board of Governors of the (IDB) Group for the review of the annual reports of the activities of the institutions of the group and the approval of the Bank's financial statements and its Final Accounts, also recommended that the (IDB) diversifies sources of growth and strengths the competitiveness of production units, in order to promote the conditions for economic and social development.

The minister likewise called for support of investment and financial flows between Muslim countries and for the implementation of public-private partnership as a facilitator for development and job creation.

He has also called to devote the surplus of the capital of the Bank in support of the social dimension of development in member countries in order to improve the living conditions of residents and their medical benefits and education.

The Minister also urged the Bank to assist member countries to face the challenges of unemployment and social and economic disparities, while mobilizing the financial resources needed to finance joint development projects both at bilateral and multilateral level in different areas.

The (IDB) was set up in 1975 by the member countries of the Organization of the Islamic Conference (OIC) in order to finance development, particularly through the contribution to capitals, providing credits, financing private projects, and promoting trade between member countries.

From its inception to 2014, the Bank provided a total of over $ 7.3 billion in Morocco to essentially finance development and foreign trade projects and technical assistance.

The IDB’s actions in Morocco focus on vital sectors of the national economy such as dams, irrigation, agricultural development, highways, literacy, rural electrification and drinking water supply of the rural populations.