The Islamic Development Bank (IDB) and the World Bank (WB) agreed to jointly tackle the rising unemployment level in the Middle East and North Africa (MENA) region. In a memorandum of understanding entered into by the two financing institutions recently, they are tasked to collaborate closely and work together to come up with programs and measures in introducing basic skills training to the general workforce in the region. In a close-door meeting between the IDB team headed by Birama Boubacar Sidibe, IDB vice president for operations and the WB counterpart headed by Shamshad Akhtar, WB vice president for MENA region on Sept. 6 at the IDB headquarters here, it was agreed that there is a need to “standardize skill training” programs in the region as a way to “fight poverty.” Akhtar said that in order to identify the skills needed by individual countries in the region, both WB and IDB are establishing partnership with the government and private sectors with the aim of providing the appropriate technical advice and, if needed, finance the viable projects to generate jobs. She stressed the urgency of “upgrading the skills across the board.” She further said the meeting is aimed at establishing “common operational platforms” between the two banks in addressing the unemployment issue in the region. She noted that technical teams from both sides will work together. She even invited the IDB team to visit the WB headquarters in Washington DC. Sidibe underlined that skills learning is the prerequisite to fight poverty, saying that the IDB has designed skill development modules especially for the marginalized people. The meeting ended with the IDB and WB teams “now working in progress” on alleviating poverty through skills development to raise the prospect of employability of those concerned, he added. The meeting also provided the opportunity to review bilateral cooperation between the two institutions and discuss recent developments, including the Gaza blockade, Arab food and water security, solar energy and climate change. The two august institutions also discussed the Arab World Initiative, a new strategy for World Bank engagement in the Arab region. Dr Ahmed Mohamed Ali, IDB Group president, who also had a meting with the WB high level delegation, said the WB initiative” will provide further partnership opportunities and create greater synergies between our two institutions.” He also thanked Akhtar for the WB's support toward the establishment of the Arab Water Academy, which is being hosted by the Dubai-based International Centre for Biosaline Agriculture (ICBA), in partnership with the Abu Dhabi Environment Agency, under the umbrella of the Arab Water Council. Akhtar commended IDB for its growing importance and contribution to the development process of its 56 member countries. She reiterated the WB's commitment to increase cooperation with IDB in the field of Islamic finance. The two development institutions have agreed to further enhance their cooperation in agricultural development, regional infrastructure development, including solar power and water, Islamic finance, microfinance, education and knowledge-sharing. Akhtar's visit aims to give a new impetus to the on-going bilateral cooperation and forge a new strategic partnership between the two institutions. Together, IDB and the WB have already co-financed over 70 projects in 26 countries in Africa, Asia and the Middle East for a total value of $3.8 billion. Recent joint activities included a power project in Yemen, an education project in Iraq, Jordan's Queen Alia airport expansion project, and, more recently, Saudi Arabia's expansion of King Abdul Aziz International Airport Haj terminal. __
