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4 MCPS for the Republic of Maldives (2022-2025) MCPS FOR THE REPUBLIC OF MALDIVES (2022-2025): A RESILIENT AND SUSTAINABLE LIFE, AND DIVERSIFIED ECONOMY FOR MALDIVIANS MAY 2022 MEMBER COUNTRY PARTNERSHIP STRATEGY FOR THE REPUBLIC OF MALDIVES (2022-2025) A RESILIENT AND SUSTAINABLE LIFE, AND DIVERSIFIED ECONOMY FOR MALDIVIANS MAY 2022 1 1 MCPS for the Republic of Maldives (2022-2025) 2 TABLE OF CONTENTS Map of the Country 08 Acknowledgments 04 Executive Summary 05 Acronyms and Abbreviations 07 1 Introduction 09 2 Country Context - Country Diagnostics 12 3 National Development Priorities 35 4 IsDB Group Strategy 2022-2025 44 5 Risk Management and Mitigation 56 6 MCPS Results Matrix 57 Annex 1: Maldives, Selected Macroeconomic Indicators, 2017-2026 Annex 2: Development Challenges Alignment Matrix 3 62 63 MCPS for the Republic of Maldives (2022-2025) ACKNOWLEDGEMENTS 2022 MALDIVES MCPS TEAM MEMBERS Dept./Entity Country Programs Name of Staff Anasse Aissami Position Acting Director General RSD Syed Husain Quadri Acting Director RH-Bangladesh Muhammad Nassis Sulaiman Manager, RH-Dhaka DG-CP Muhammad Taimur Khan Manager, DFU DG-CP Abdoulie Sireh-Jallow MCPS Coordinator DG-CP Raian Farooq Regional Economist (Asia) RH-Bangladesh Golam Mortaza Country Economist RH-Bangladesh Nasser Mohammed Yakubu Operations Team Leader-SI RH-Bangladesh Abu Sandy Bockarie Operations Team Leader-EI IsDB Institute Bukhari Sillah Senior Economist RSD Saeed Ahmad Lead Social Finance Specialist Finance Complex Hamid Mohssin Kerraouch Senior ADF Specialist RMD Abdourabbih Abdouss Director ICD Elvin Afandi Head, Economic Policy & Research ITFC Iftekhar Alam Senior Manager, Relationship Management ICIEC Hasan Nayeem Rahman Country Manager IsDBi Mustafa Yagci Senior Economist IsDBi Salman Syed Ali Lead Research Economist IsDBi Mahmoud Bekri Research Economist IFSD Syed Asim Raza Lead AWQAF Investment Specialist DG-CP Khalid Kane Senior GVC Specialist RCI Aminuddin Mat Ariff Senior Technical Cooperation Coordinator Agriculture Momodou Ceesay Lead Global Rural Development Specialist Agriculture Bashir Jama Adan Agriculture Development Expert Transport Omar Mehyar Lead Global Transport Specialist Energy Hussain Mogaibel Lead Global Energy Specialist Social Infrastructure El-Bashier Sallam Lead Social Infrastructure Specialist RSD Morooj Safdar NGO and Civil Society Specialist PPP Tariq Aijaz PPP Investment Officer PPP Erbay Dokmeci Senior PPP Advisory Specialist Urban Development Papa Sy Lead Global Urban Specialist Water & Sanitation Nizar Zaied Lead Global Water Resource Specialist RSD Rafif Alam Women Empowerment Specialist RSD Olatunji Yusuf Senior Climate Change Specialist RH-Bangladesh/PPR Md.
FINAL DRAFT Occasional Paper 4 ISLAMIC DEVELOPMENT BANK ECONOMIC POLICY AND STRATEGIC PLANNING DEPARTMENT THE ROLE OF FINANCIAL MARKETS IN PRIVATE SECTOR DEVELOPMENT IN IDB MEMBER COUNTRIES ARSHAD ZAMAN P000/IDB FOREWORD The Board of Executive Directors Sub-Committee on the Annual Report, in its meeting of Shawwal 1420H, suggested that IDB prepare a paper for 1421H on the topic “The Role of Financial Markets in Private Sector Development.” At the request of the Chairman of the sub-committee, the Economic Policy & Strategic Planning Department (EPSP) of the Islamic Development Bank took in hand the task of co-ordinating the preparation of the paper.
s113 ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES Financial Statements and Independent Auditor's Report For the year ended 31 December 2018 ISLAMIC DEVELOPMENT BANK - ORDINARY CAPITAL RESOURCES For the year ended 31 Decem ber 2018 Contents Independent auditor's report Statement of financial position Income statement Statement of changes in members' equity Statement of cash flows Notes to the financial statements Page No. 3-9 10 11 12 13 14 - 51 Building a better working world Ernst & Young & Co. (Certified Public Accountants) General Partnership King's Road Tower - 13'h floor King Abdul Aziz Road (Malelc Road) P.O.
ISLAMIC DEVELOPMENT BANK 39 Years In the Service of Development Islamic Development Bank Group 39 YEARS IN THE SERVICE OF DEVELOPMENT Jumada-II 1434H (May 2013) For enquiries about this booklet, please write to: Director, Economic Research and Policy Department Islamic Development Bank P. O.
ISLAMIC DEVELOPMENT BANK THIRTY-ONE YEARS IN THE SERVICE OF DEVELOPMENT Economic Policy and Strategic Planning Department Jumad Awwal 1426H (June 2005) This document can be obtained from: The Bank Secretariat Department Islamic Development Bank P. O.
In Central Asia, cereal production nontemperate regions), field studies indicate that C3 plants could increase in Kazakhstan, while in Turkmenistan (wheat, rice, cotton, soybean, sugar beets, and potatoes) and Uzbekistan, frequent droughts could affect cotton will benefit more than C 4 plants (corn, sorghum, sugarcane).
ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES FINANCIAL STATEMENTS 29 Dhul Hijjah 1434H (3 November 2013) with INDEPENDENT JOINT AUDITORS’ REPORT ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES FINANCIAL STATEMENTS 29 Dhul Hijjah 1434H (3 November 2013) Page Independent joint auditors’ report 2 Statement of financial position 3 Income statement 4 Statement of cash flows 5 Statement of changes in members’ equity 6 Notes to the financial statements 7 - 40 ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES STATEMENT OF FINANCIAL POSITION As of 29 Dhul Hijjah 1434H (3 November 2013) (All amounts in thousands of Islamic Dinars unless otherwise stated) 1434H 1433H Restated 210,458 2,468,335 595,450 233,450 297,499 3,181,353 1,174,984 1,709,374 2,069,506 713,064 602,178 112,874 57,262 469,972 1,357,530 388,549 214,438 480,775 2,538,153 1,026,479 1,659,954 1,864,050 717,065 560,680 110,915 58,102 13,425,787 11,446,662 4,205,004 1,560,211 406,894 3,101,322 893,219 439,305 6,172,109 4,433,846 4,799,791 2,274,446 179,441 4,590,239 2,292,330 130,247 7,253,678 7,012,816 13,425,787 11,446,662 56,267 53,403 Notes Assets Cash and cash equivalents Commodity placements through banks Investments in Sukuk Murabaha financing Accrued income and other assets Istisna'a assets Instalment financing receivables Loans Ijarah Muntahia Bittamleek Investments in equity capital Investments in associates Other investments Fixed assets 4 5 6 7 8 9 10 11 12 14 15 16 17 Total assets Liabilities and members’ equity Liabilities Sukuk liability Commodity purchase liabilities Accruals and other liabilities 18 19 20 Total liabilities Members’ equity Paid-up capital Reserves Retained earnings 22 Total members’ equity Total liabilities and members’ equity Restricted investment accounts 27 The accompanying notes from 1 to 35 form an integral part of these financial statements. 3 ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES INCOME STATEMENT For the year ended 29 Dhul Hijjah 1434H (3 November 2013) (All amounts in thousands of Islamic Dinars unless otherwise stated) 1434H 1433H Restated 19,725 517 9,384 122,813 44,657 10,843 201,714 33,234 26,134 1,612 12,435 483,068 19,562 21,914 8,311 102,164 41,212 8,820 189,789 41,953 14,928 19,776 468,429 (133,949) 349,119 (147,254) 321,175 Notes Income from: Commodity placements through banks Investments in Sukuk Murabaha financing Istisna'a assets Instalment financing Loans service fees Ijarah Muntahia Bittamleek Investments in equity capital Share of income in associates Net gain on disposal and acquisition of associates Other income 6 15 15 Depreciation of assets under Ijarah Muntahia Bittamleek Foreign exchange gain, net Gain/(loss) from Murabaha based profit rate and cross currency profit rate swaps Financing costs Income from operations 12 8 18,19 6,780 4,456 8,263 (5,028) (64,197) 299,965 (57,358) 263,245 General and administrative expenses Income before provision for impairment of financial assets 24 (99,796) 200,169 (98,231) 165,014 Provision for impairment of financial assets Net income 13 (20,728) 179,441 (34,767) 130,247 The accompanying notes from 1 to 35 form an integral part of these financial statements. 4 ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES STATEMENT OF CASH FLOWS For the year ended 29 Dhul Hijjah 1434H (3 November 2013) (All amounts in thousands of Islamic Dinars unless otherwise stated) Notes Cash flows from operations Net income Adjustments to reconcile net income for the year to net cash utilized in operating activities: Depreciation Share of income in associates and other Provision for impairment of financial assets Investment fair value losses/(gains) on Sukuk Amortization of deferred grant income Foreign exchange losses/(gains) Gain on disposal of investment in equity capital 12,17 15 13 6 Changes in operating assets and liabilities: Murabaha financing Accrued income and other assets Istisna'a assets Instalment financing receivables Ijarah Muntahia Bittamleek Loans Accruals and other liabilities Net cash utilized in operating activities Cash flows from investing activities Commodity placements through banks Investments in Sukuk Proceeds from disposal/redemption of investments in Sukuk Investments in equity capital Proceeds from disposal of investments in equity capital Additions to other investments Proceeds from disposal of other investments Investments in associates, net Additions to fixed assets Net cash utilized in investing activities 6 6 14 14 16 16 15 17 1434H 1433H Restated 179,441 130,247 141,552 (27,746) 20,728 18,670 (567) 7,545 (372) 154,693 (14,928) 34,767 (8,397) (567) (6,941) - (18,317) 183,276 (645,820) (149,225) (348,226) (58,682) (55,558) (753,301) 6,196 (32,556) (462,536) (20,323) (229,836) (33,485) (29,641) (513,307) (1,110,805) (549,230) 319,479 (35,733) 1,432 (18,681) 9,723 (22,342) (6,763) (1,412,920) (701,746) (156,241) 47,831 (4,099) 908 (2,127) 18,653 (37,331) (5,563) (839,715) 209,552 (11,029) 216,435 (7,714) (66,124) (64,803) Cash flows from financing activities Net increase in paid-up capital Technical assistance and scholarship program grants Contribution to the principal amount of Islamic Solidarity Fund for Development (ISFD) Payment of Islamic Corporation for the Development of the Private Sector (ICD) capital on behalf of Member Countries Proceeds from issuance of Sukuk Redemption of Sukuk Commodity purchase liabilities Net cash generated from financing activities - (8,167) 1,171,626 (64,310) 666,992 1,906,707 1,288,953 (89,001) (466,683) 869,020 Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of the year (259,514) 469,972 (484,002) 953,974 210,458 469,972 Cash and cash equivalents at end of the year 4 The accompanying notes from 1 to 35 form an integral part of these financial statements. 5 6 23 23 21 25 14,16 22 4,799,791 - 209,552 (66,124) (311) 130,247 (11,029) 1,987,975 9,218 - 1,925,974 4,590,239 23 23 25 (8,167) (64,803) 109,000 (7,714) - 21 - 22 - 1,896,315 1,343 - 4,373,804 216,435 14,16 1,769,766 58,153 68,396 4,373,804 - General reserve 21 32 Paid-up capital The accompanying notes from 1 to 35 form an integral part of these financial statements. Balance at 29 Dhul Hijjah 1434H Increase in paid-up capital Net unrealized losses from investment in equity capital and other investments Reversal of impairment on investment in equity capital Increase in the actuarial losses relating to retirement pension and medical plans Contribution to the principal amount of ISFD Share in associates’ reserve movement Net income for the year ended 29 Dhul Hijjah 1434H Transfer to general reserve Allocation for grants Balance at 29 Dhul Hijjah 1433H Balance at 29 Dhul Hijjah 1432H, as previously stated Regrouping the reserve accounts Prior period adjustments Balance at 29 Dhul Hijjah 1432H, as restated Impact of equity accounting on reserves Increase in paid-up capital Net unrealized gains from investment in equity capital and other investments Increase in the actuarial losses relating to retirement pension and medical plans Payment of ICD share capital on behalf of Member Countries Contribution to the principal amount of ISFD Net income for the year ended 29 Dhul Hijjah 1433H Transfer to general reserve Allocation for grants Notes ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES STATEMENT OF CHANGES IN MEMBERS’ EQUITY For the year ended 29 Dhul Hijjah 1434H (3 November 2013) (All amounts in thousands of Islamic Dinars unless otherwise stated) (12,983) 377,651 (43,188) - - 433,822 - 83,198 346,706 3,918 - 377,116 (30,410) (23,714) (91,180) - - (67,466) (9,313) - - (58,153) - (58,153) - Reserves Fair value Pension and and other medical reserve obligation (23,714) (66,124) (13,294) 130,247 (11,029) 2,274,446 (43,188) 9,218 - 2,292,330 (9,313) (8,167) (64,803) 109,000 (7,714) 83,198 2,184,868 5,261 - 2,146,882 37,986 Total 179,441 (130,247) 179,441 - - 130,247 130,247 (109,000) - - - 109,000 109,000 - Retained earnings (23,714) (66,124) (13,294) 179,441 (11,029) 7,253,678 (43,188) 9,218 209,552 7,012,816 (9,313) (8,167) (64,803) 130,247 (7,714) 83,198 6,667,672 5,261 216,435 6,629,686 37,986 Total ISLAMIC DEVELOPMENT BANK ORDINARY CAPITAL RESOURCES NOTES TO THE FINANCIAL STATEMENTS For the year ended 29 Dhul Hijjah 1434H (3 November 2013) (All amounts in thousands of Islamic Dinars unless otherwise stated) 1.
Towards a Resilient Annual Development Effectiveness Report 2021 Contents Abbreviations (p05) About ITFC (p06) Foreword, Chairman, IsDB Group (p07) A Message from the CEO, ITFC (p08) Report Summary (p10) Figures of Resilience (p12) Report Structure (p14) 1 ITFC’s Approach to Development Effectiveness (p16) A. ITFC Strategic Framework: Spearheading economic progress (p18) B.
INCLUSIVE GROWTH MAKING VALUE CHAINS WORK FOR SMALLHOLDER FARMERS ISLAMIC DEVELOPMENT BANK AGRICULTURE INFRASTRUCTURE DIVISION ECONOMIC AND SOCIAL INFRASTRUCTURE DEPARTMENT 2020 INCLUSIVE GROWTH MAKING VALUE CHAINS WORK FOR SMALLHOLDER FARMERS Correct Citation: Islamic Development Bank Group. (2020). Inclusive Growth: Making Value Chains Work for Smallholder Farmers.
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