Riyadh : Saturday, March 25, 2006

A tripartite Memorandum of Understanding (MOU) to Promote Youth Employment in IDB Member Countries was signed today in Riyadh between Youth Business International (YBI), The Centennial Fund (TCF), and the Islamic Development Bank (IDB) in the presence of HRH Prince Charles, Prince of Wales & HRH Prince Abdulaziz bin Abdallah, Chairman of Board of Trustees of the Centennial Fund.

The MOU of cooperation between YBI, TCF, and IDB will focus on many types of activities in IDB member countries on the development of youth employment such as identification and appraisal of suitable youth business programmes, providing financial and technical assistance, training of personnel and evaluation of the programme results.

The MOU was signed by Mr. Andrew Devenport, Executive Director of YBI, Mr. Hesham A. Tashkandi, General Manager of TCF and Dr. Abderrahim Omrana, IDB Secretary, on behalf of the President of the Islamic Development Bank.

The YBI is a programme of the International Business Leaders' Forum which has been established mainly for assisting in setting up youth business programmes in target countries, TCF has been established to promote youth employment in Kingdom of Saudi Arabia while the purpose of IDB is to foster the economic development and social progress of member countries by participating in various development activities.