It is in Marrakech that will be unveiled the new strategy carried by the Islamic Development Bank (IsDB) for achieving the Sustainable Development Goals (SDGs).
The occasion is the 44th Annual Meeting of the Islamic Development Bank Group (IsDB), which started yesterday, April 3rd. These Assemblies will bring together some 2000 senior officials and participants from the world of finance from the 57 member countries of the IsDB.
For three days, four key pillars of IsDB’s five-year plan will be debated. Namely, public-private partnerships, science, technology and innovation, the global value chain as well as Islamic finance. For Dr. Bandar Hajjar, President of the IsDB, the SDGs are at the center of the Bank’s mission, and for this reason they represent a new era, raising the level of development funding required from billions to trillions of dollars. dollars. The magnitude of these challenges is thus greater than any individual institution can have as capacity.
For this reason, during the Marrakech meeting, several partnership and financing agreements will be concluded between the IsDB and other international banks as well as States. Well-designed PPPs generally lead to higher socio-economic returns than the traditional public procurement model. “Governments suffering from severe budgetary constraints must seek to establish regulations that allow all economic agents on the market – both public and private – to play a role in development,” wrote the columns of L’Economiste, Dr. Bandar Hajjar.
The global development community must also redouble its efforts to engage the private sector in recognizing its vital role as an engine of growth and investment. Morocco has chosen to further amplify the public investment effort to strengthen the supply of quality infrastructure and services through the use of PPPs as a tool of choice.
PPP projects have been more successful, with an average success rate of 89%. The probability of completing these projects on time is 3.5 times higher than those achieved by the public sector. Numerous cases of PPP financing by the IsDB have been successful, such as the extension and rehabilitation of the Jorf Lasfar port project for OCP in Morocco, for which the IsDB has approved financing of 150 million US dollars.
The Kingdom will also take advantage of the 44th IsDB annual meeting to finalize the cooperation action plan between the Kingdom and the Bank for the next five years and present the main projects carried out in Morocco, particularly in the field of renewable energies. infrastructures.