Rabat, Morocco -: The Islamic Development Bank (IDB) and the Kingdom of Morocco have signed a memorandum of understanding (MoU) to promote knowledge sharing, and capacity building to countries in Sub-Saharan Africa. The memorandum was signed by Mr Mohamed Boussaid, Minister of the Economy and Finance, IDB Governor for Morocco, and Dr. Ahmed Mohamed Ali, President of the IDB Group.
The memorandum was signed in Rabat at the headquarters of the Ministry of the Economy and Finance. The memorandum aims to enhance growth and social progress and promote Islamic banking in Sub-Saharan countries to enable them achieve sustainable development by involving the Moroccan public and private enterprises in the implementation of IDB-funded development programmes..
Additionally, another tripartite memorandum of understanding (MoU) was a signed between the Moroccan Agency for International Cooperation, the Government of Burkina Faso and the IDB, within the framework of the Bank's efforts to promote the exchange of knowledge and expertise among its member countries. Under the terms of the MoU, the Moroccan Agency for International Cooperation is to provide expertise to the national drinking water company of Burkina Faso and help build its capacity to manage
and supply clean drinking water, protect the water resources of the Ziga dam, optimize the use of the dam's water treatment capabilities and enhance the capacity of the national central laboratory in Ouagadougou in Water quality control.
The memorandum was signed by Dr. Ahmad Mohamed Ali, IDB President, Mr. Abderrahim Kadmiri, Director General of the Moroccan Agency for International Cooperation, and Mr Jean Gustav Sanon, Minister of Economy and Finance and IDB Governor for Burkina Faso by.
The Kingdom of Morocco is a founding member of the IDB and entertains strong relations with the IDB Group. Total financing extended by IDB Group to Morocco so far are in excess of US$6 billion, covering various development sectors, including trade, which forms part of the IDB group efforts to promote trade exchange among its member countries.