Islamic Development Bank Group Organizes the G8 Deauville Partnership Regional Investment Forum in Egypt
Jeddah, 15/8/1434H (24/6/2013): In collaboration with the Egyptian authorities and with members of the G8- Deauville Partnership, the Islamic Development Bank (IDB) Group is organizing an investment forum in Cairo on Tuesday 25th of June 2013.
The forum, which is organized under the Deauville Partnership, will be attended by a number of Egyptian ministers, IFI representatives, heads of corporations and economic institutions and a number of investment companies from the region in addition to representatives from the Deauville Partnership and the EU.
The IDB Group, within its current capacity as the host of the Secretariat for the Deauville Partnership IFI Coordination Platform, to help Arab transitions countries build an enabling investment environment that would be conducive for attracting more foreign direct investment inflows.
The ultimate objective of building such enabling investment environment in the Arab transition countries is to provide more confidence to local and foreign investors and provide better market access to these countries. The renewed investment and availing of available investment opportunities will support the economic and social development and will create more job opportunities, particularly for the youth.
The investment forums in Tunisia and Egypt are also meant to provide the opportunity for these two countries to prepare for an active and convincing participation in the forthcoming investment conference in London on 16 September, 2013. This conference is being organized by the United Kingdom in its capacity as the current G8 Deauville Partnership Presidency.
In addition to the eight industrial countries (G-8), there are additional regional partners from IDB member countries, namely Kuwait, Qatar, Saudi Arabia, U.A.E. and Turkey, and ten other international financial institutions including, in addition to the IDB, the African Development Bank, Arab Fund for Economic and Social Development, Arab Monetary Fund, Islamic Corporation for the development of the Private Sector, European Bank for Reconstruction and Development, European Investment Fund, International Finance Corporation, the International Monetary Fund, the OPEC Fund for International Development and the World Bank.
The coordination platform of the international financial institutions participating in the Deauville Partnership after consultations with the G-8 Presidency in 2012 has selected, unanimously, IDB to host the Secretariat of the coordination platform for one year as from September 2012, succeeding in this role the African Development Bank.
