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Islamic Development Bank promises more for Africa

The sub-regional ministerial forum on the implementation of the Special Programme for the Development of Africa (SPDA) has ended in Yaounde. At the end of deliberations, the Islamic Development Bank pledged to continue to work for the development of Africa.

According to the management body, the banks shall disburse 2,200 over a period of five years to finance development projects in the continent.

The forum was organized to access the strides made in the implementation of SPDA, assess the level of collaboration from member countries and to identify and find solutions to problems that are inherent in the implementation of these projects.

The Cameroon’s Minister of the Economy, Planning and Regional Development, Louis Paul Motaze, appreciated the Banks interest in the development of the continent.

Noteworthy is that the Special Programme for the Development of Africa was implemented in 2008 to assist member countries, promote sustainable development and ensure a solid and lasting economic growth.

These objectives falls in line with the bank’s four-pillar vision by 2020; to transform the development landscape of its member countries through poverty reduction, regional integration, development of the Islamic finance industry, private sector development and capacity building amongst others.

In his opening address, the IDB President called the bank’s member countries to increase their contribution to the Islamic Solidarity Fund for Development in order to facilitate the execution of the programme.

Pamela Bidjocka, CRTV

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