Jeddah, KSA – 05.02.2015 : In a high profile visit to the Islamic Development Bank (IDB), the President of Benin Republic, HE Boni Yayi, called on the Islamic Development Bank to support his country in tackling poverty and confronting the various development challenges prevailing in the West African region.
Speaking at IDB Headquarters in Jeddah, President Boni Yayi commended the IDB Group led by the Group Chairman, Dr. Ahmad Mohamed Ali, over the continued support rendered by the Group for the socio-economic development of his country namely in improving power generation, health, and education as well as efforts for empowerment of women through funding micro-finance projects.
He stated that his visit to the IDB Group headquarters was meant to confer with the Group management on ways and means to better face the prevailing challenges. “It is time to eliminate poverty and IDB is known for fighting poverty. We need to install institutions with which we can fight the challenges we face”, said President Yayi. He then spoke of his country’s willingness to cooperate with IDB in issuing Sukuk (Islamic bonds) to mobilize even further financial resources for Benin’s
development which will also benefit other regional countries many of them IDB member countries.
In his remarks, the President of IDB, Dr. Ahmad Mohamed Ali expressed readiness to provide utmost support to Benin Republic. He cited the achievements of the government of President Yayi through rapid economic growth as an indication of his commitments.
“IDB will be at your disposal for the benefit of the people of Benin. The piece of land donated by your government to the IDB’s poverty alleviation arm, the Islamic Solidarity Fund for Development (ISFD) is a testimony to your leadership and a shining example to other member countries”, Dr Ahmad Ali stated.
He added that IDB truly appreciates the contributions by Benin Republic to the landlocked countries in West Africa. He then reiterated that measures will be taken to ensure the speedy completion of IDB projects in Benin Republic.
It is worth mentioning that Benin Republic has joined IDB since March 1984. Cooperation between Benin and the IDB Group has grown considerably in recent years. So far, the financing extended by the IDB Group to Benin in the fields of education, health, agriculture and irrigation, finance, power generation, transportation and water supply, stands at nearly US $ 532 million.