IDB signs a Memorandum of Understanding with NEPAD

Jeddah, KSA-17.12.2015- The Islamic Development Bank (IsDB) and the NEPAD, Planning and Coordinating Agency (NPCA) have signed a Memorandum of Understanding (MoU) to strengthen regional integration and cooperation between the two organizations.
The MoU was signed today by the NPCA’s CEO, Dr.Ibrahim Assane Mayaki, and the President of the Islamic Development Bank Group, Dr. Ahmad Mohamed Ali, at the IDB headquarters in Jeddah, Saudi Arabia.
The key focus of the MoU is to work on areas of interest between the two organizations, particularly in regional integration and infrastructure, agriculture and food security, education and human capital development, climate change and natural resource management, and economic and corporate governance. Other areas of interest include women empowerment, capacity development and communication.
“I am delighted to be part of this historic occasion where our respective institutions agree to work together for the benefit of our member countries. As a development institution, the Islamic Development Bank sees regional integration and cooperation as an indispensable tool in bringing people from different regions, to harness their potentials, create jobs, spread wealth and promote understanding”, said Dr. Ahmad Ali of IDB. “Africa is top in our priority for development cooperation. I believe
that in the 21st century, we need to work together, and avail our people with the opportunity to intermingle without restrictions in a respectful and law abiding manner. By signing this agreement, we are confirming to the world, that we are working for a secure future through development cooperation.” he added.
On his part, Dr Ibrahim Assane Mayaki stated that, “he is very happy for this partnership with one of the most important and discrete actor of development in Africa. The NEPAD Agency as the Development Agency of the African Union is proud to work closely with the IsDB in its new orientation to become a Technical Advisory and Funds Management Agency of the African states and community. The aim is to transform and ensure that the necessary modalities and processes are in-place for the NEPAD Agency
to re-focus on its new service offerings as an Agency that provides outstanding professional and expert technical advisory services coupled with providing grant and seed funding to assist countries in their development agendas. The emerging challenges of access to knowledge for innovative solutions, youth employment, sustainable rural development, adequate infrastructure and industrialization will be tackled properly in order to achieve the ‘Africa we want’.