Arab countries ready to expand ties with Africa
The Chief Executive Officer of the International Islamic Trade Finance Corporation and member of the Islamic Development Group, Hani Sonbol says the Islamic Development Bank is scouting for bankable projects in Africa to expand ties with the continent. While speaking with CNBC Africa's Kenneth Igbomor, he notes Africa is securing its autonomy and the move has been commendable so far.
Thu, 03 Nov 2022 12:11:26 GMT
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AI Generated Summary
- Arab countries are keen on investing in bankable projects in Africa to foster economic growth and development
- The Islamic Development Bank Group is prioritizing sectors such as infrastructure, food security, and environmental projects in Africa for investment
- A strategic partnership between Arab and African countries could lead to mutually beneficial opportunities for economic progress and sustainability
Arab countries are looking to expand their ties with Africa by investing in bankable projects across the continent, according to Hani Sonbol, the Chief Executive Officer of the International Islamic Trade Finance Corporation and a member of the Islamic Development Group. In a recent interview with CNBC Africa, Sonbol highlighted the importance of strategic partnerships between Arab nations and Africa to drive economic growth and development. The Islamic Development Bank Group is actively scouting for investment opportunities in Africa, particularly in sectors such as infrastructure, food security, agricultural development, and environmental projects. Sonbol emphasized the potential for collaboration between Arab and African countries to create a mutually beneficial relationship that fosters economic prosperity and sustainability. As African nations strive for greater autonomy and resilience in the face of global challenges, partnerships with Arab investors could play a crucial role in driving progress and unlocking new opportunities for growth.
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