IDB READY TO WORK CLOSELY WITH ANY INSTITUTIONS ASSOCIATED WITH BANDUNG SPIRIT

The IDB President Ahmed Mohamed Ali and Indonesian Vise President Jusuf Kalla (beritasatu)

Jakarta, 4 Rajab 1435/23 April 2015 (MINA) – The president of Islamic Development Bank (IDB), Ahmad Mohamed Ali, stated that his institution is ready to work closely with any institution associated with the Bandung Spirit implementtion.

“Notwithstanding the revival of the Bandung Spirit in 2005 with NAASP, the Asian African countries need to focus their attention on how to collectively respond to the chalenges arising from the reconfigured world order,” said Mohamed Ali in the press statement on the occation of the 60-th Asia Africa Conference Commemoration, Jakarta, Thursday.

The ten principles of the Bandung Spirit permeate the activities of the IDB group in many ways. As such the following explains how the IDB group activities are aimed at implementing Bandung Spirit to promote South-South cooperation agenda and foster deeper cooperation between Asia Africa countries.

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The IDB by virtue of its mandate, is a role model and a thrue south-south coopertion institution especially in the area of financial flow among its member countries such as economic cooperation, transfer of tecnology, capacity building, tecnical assistance, and global trade.

In promoting economic field, IDB has a number of programs designed for human and skill development, these are; Reserve linkeage program, investment promotion tecnical assistance program (ITAP), trade promotion and cooperation program (TCPP), WTO-related program, science and tecnology program, scholarship and so on.

Since its inception, comulativetrust funds’ contribution reached $2.6 billion for Al Aqsa funds. Palestine itself received about $1,5 billion allocated for vital sectors including health, education, water and sanitation, agriculture, housing, municipal capacity, and economic empowerment.

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IDB is also working on a joint South Asia scheme for assistance to Palestine in which Indonesia and Japan play a leading role.

Apart from Palestine, new beneficiaries of IDB’s trust and funds were Somalia, Niger, Comoros, Afghanistan, Bangladesh, India, Kyrgyztan, Pakistan, Uzbekistan and Yemen. (L/R03/R04)

Mi’raj Islamic News Agency (MINA)