United Nations Industrial Development Organization, UNIDO and the Islamic Development Bank, IDB have expressed their readiness to jointly promote inclusive and sustainable industrial development.
A joint declaration on this was signed in Jeddah yesterday by the Director General of UNIDO, LI Yong, and the President of IDB, Ahmad Mohamed Ali Al-Madani.
According to a statement by UNIDO, the two organisations will jointly focus on the promotion of trade and investment in the Organisation of Islamic Cooperation, OIC countries, poverty reduction through productive activities; private sector development through business development and investment promotion.
Others listed are the economic empowerment of women and young people; as well as on sustainable energy, agriculture, agro-industry and food security, water, environment and climate change mitigation.
The statement added that UNIDO and IDB will work in the area of industrial project preparation and appraisal, including by using UNIDO’s Computer Model for Feasibility Analysis and Reporting, COMFAR, which facilitates short and long-term analysis of financial and economic consequences for industrial and non-industrial projects.
It informed that Director General Yong is in Saudi Arabia on an official visit during which he is scheduled to meet with high level government officials.

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