Held under the high patronage of
HM King Mohammed VI, this annual meeting, chaired by the Minister of
Economy and Finance, Mr. Mohamed Benchaaboun as President of the Board
of Governors of the IsDB, was an opportunity for the representatives of
the Member Countries to address the various issues related to the theme
and the four core pillars of the Bank's five-year plan, namely
"public-private partnerships", "science, technology and innovation" ","
the global value chain "and" Islamic finance ".
In a statement read on behalf of the Minister of Economy and
Finance, Mr. Zouhair Chorfi, Secretary General of the Ministery of
Economy and Finance, welcomed the great success of this meeting, as well
as the quality of the issues discussed to ensure the development of the
bank's member countries.
At the same time, he stressed that the
signing of the framework agreement on the Morocco-IsDB partnership
strategy (2019-2022) creates a new framework for cooperation between
both sides and represents a significant step forward towards enhancing
the links between the Kingdom and the bank to the required level.
In this respect, the Minister stressed the importance of this
partnership strategy as a framework to strenghthen the strong
Morocco-IsDB cooperation. The latter is related to the new model based
on the development of value chains in economic sectors in which the
Kingdom is charecterized by competitive advantages and which are of high
priority for the government.
In addition, he noted that the
signing of the Memorandum of Understanding with the IsDB on the 2019
Action Plan is an effective implementation of the partnership strategy
and stated that about $ 206 million was devoted to this plan to fund
projects in crucial and priority sectors for the government.
the other hand, Mr. Bandar Hajjar, President of the IsDB, stressed that
the royal message to this conference participants is of great importance
since it supports the Bank's new guidelines. He also called for
collective action in order to promote solidarity between the Member
Countries. " We would like to take this opportunity to express on behalf
of the IsDB our gratitude and sincere thanks to HM King Mohammed VI for
his high patronage of this meeting," he stated.
Mr. Hajjar described the links between Morocco and the IsDB as historic,
noting that the bank's funding allocated for Morocco was close to $ 7
He claimed that the first partnership that covered the
period from 2013 to 2016 is valued at $ 2.7 billion, while the new
agreement concerns the 2019-2022 partnership strategy and is in keeping
with the new IsDB model.
He added that the main recommendations
following this event are built around the Board of Governors’s approval
of the new IsDB model based on value chains, science, technology and
innovation, partnerships and strengthening of Islamic financing in terms
of the bank’s projects with its member countries.