The Minister of Planning and Economic Development added that the role of the IsDB can be strengthened in sharing knowledge and exchanging expertise.
Dr. Hala El Said emphasizes the importance of partnerships between Southern countries as a crucial empowerment factor - Press Photo
Dr. Hala El Said, Egypt's Minister of Planning and Economic Development and Governor of Egypt at the Islamic Development Bank's (IsDB), joined a roundtable on "Enhancing Partnerships between Southern Countries to Prevent Crises." The event was held during the IsDB's Annual Meetings in the Kingdom of Saudi Arabia from May 10-13.
During her participation, Dr. El Said praised the selection of the topic of the Governors' Roundtable, which addresses the challenges facing developing and least developed countries in the "Global South" in the current global context of complex crises. It highlights the importance of deepening joint efforts among this group of countries in the form of partnerships between them.
El Said emphasized the necessity and importance of partnerships between Southern countries as a crucial empowerment factor for the collective response to current global crises and to achieve the Sustainable Development Goals 2030 plan.
She pointed out that, in the face of global inflation and restrictions on access to traditional global financial markets, the IsDB has a unique set of comparative advantages as the only multi-party development bank exclusively composed of member countries from the Global South, and whose operations are entirely based on Islamic finance. She confirmed that these advantages can provide practical solutions to address some of the resource mobilization constraints faced by member countries.
The Minister of Planning and Economic Development added that the role of the IsDB can be strengthened in sharing knowledge and exchanging expertise to enhance partnerships between Southern countries by sharing the innovations of member countries that can be learned from or replicated.
El Said said that this could primarily be achieved through the IsDB's efforts to maximize the use of the significant potential of human capital in member countries by ensuring the best use of the comparative advantages that each member country enjoys.
Positive Background: The Islamic Development Bank (IsDB) is a multilateral development bank that has been working for 46 years to promote social and economic development in member countries and Muslim communities worldwide.
It supports projects and programs in different areas, including infrastructure, education, health, agriculture, and rural development. With 57 member countries, the IsDB's mission is to foster sustainable economic development and social progress by investing in people, their needs, and their aspirations.
