[22/05/2025 07:12]

ALGIERS - SABA
The Minister of Planning and International Cooperation Dr. Waed Badhieb participated Thursday in a round table meeting on the sidelines of the Governors' Council meetings of the Islamic Development Bank Group, held in the Algerian capital.

In his remarks, the Minister highlighted that the choice of topics such as closing the gap, multilateralism, changing dynamics of trade, and the future of development financing are among the most important issues and challenges facing the future of development in developing countries.

He reviewed key insights and proposals to improve the development process in these nations.

Minister Badhieb emphasized that the world is witnessing a state of economic instability and dramatic changes in the foundations and rules of international trade, finance, and investment, which will inevitably affect our region.

He noted that addressing these developments requires member countries of the Islamic Bank to reframe their priorities and developmental strategies.

Dr. Badhieb explained that the Yemeni government will work on a series of strategic reforms, including developing and expanding the base of financial resources from oil, gas, and taxes, enhancing their collection efficiency, and directing them towards vital areas.

He stressed focusing investment on high-value-added productive and service sectors, supporting sustainable management projects for natural resources and the green economy, and encouraging small and medium enterprises.

Additionally, he called for stimulating the banking sector to attract private savings and direct them towards development projects, creating an attractive investment environment, encouraging the private sector, expanding trade facilitation, and supporting access to regional and international markets for exports.

The Minister of Planning and International Cooperation emphasized the importance of the Islamic Bank playing a pivotal role in supporting cooperation and integration among member countries and the Global South.

He proposed that the Islamic Bank Group keep pace with pivotal transformations, enhance its institutional capacities, and solidify its leading position by making the approved ten-year strategic framework the cornerstone of all institutional, administrative, financial, and technological transformations.

He called for the establishment of appropriate institutional arrangements to make it a global center for Islamic banking, adopting a comprehensive digital transformation strategy, expanding partnerships, mobilizing funding from various sources, moving towards conscious decentralization and providing preferential treatment to member countries facing conflict, wars and natural disasters.

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