Algeria Close to Joining the BRICS Bank
来源:www.echoroukonline.com;发表于:2024-05-02;人气指数:37
Thursday, May 2,
2024
Algeria Close to Joining the BRICS
Bank
Algeria is close to joining the New
Development Bank, known as the “BRICS Bank”, as the process will be completed
according to the agreed-upon timetable, and this bank can contribute to
financing development, and strategic and structural projects for the Algerian
economy.
On the sidelines of his participation in
the 2024 Spring Meetings of the World Bank Group and the International Monetary
Fund currently held in Washington, Finance Minister Laaziz Fayed met with Dilma
Vana Rousseff, Chair of the New Development Bank.
The discussions focused in particular on
the extent of the development of Algeria’s accession to this international
financial institution, as Rousseff explained in this regard that “this process
is continuing, according to the agreed-upon timetable, and that the legal and
institutional procedures for this accession are in the final stage. The two
parties also discussed the possibilities of future cooperation with our country
in financing strategic and structural development projects for Algeria’s economy”.
As part of his continued participation
in the work of the 2024 Spring Meetings of the World Bank Group and the
International Monetary Fund currently held in Washington D.C, the Minister of
Finance, Laaziz Fayed, participated, on Thursday, April 18, 2024, in the
high-level ministerial meeting of the World Bank on the Human Capital Project,
and also attended on Friday, April 19. April 2024 the meeting of the
International Monetary and Financial Committee.
The Human Capital Project is a global
initiative to promote and improve population investments to promote social
justice and stimulate comprehensive global economic growth. The 2024 edition of
the Ministerial Meeting on the Human Capital Project brought together about 50
countries, represented by their finance ministers. It focused mainly on the
potential impact of artificial intelligence on human capital development.
The Minister of Finance also
participated in the meeting of the International Monetary and Financial
Committee and in the spring meetings, where the committee submitted a report to
the Board of Governors of the International Monetary Fund on the latest developments
in the field of supervision and management of the international monetary and
financial system, as well as the measures that must be taken in the events that
could disrupt this system.
Moreover, at the bilateral level, the
Minister met respectively with Ousmane Dione, Vice President for the Middle
East and North Africa Region at the World Bank and his team, Fahd Alturki,
Director General and Chairman of the Board of Directors of the Arab Monetary
Fund (FMA), in addition to Paolo Gentiloni, the European Union Economy
Commissioner.
During these meetings, Fayed presented
the recent development of the Algerian economic framework and its positive
results. He took this opportunity to inform his interlocutors of the measures
and reforms taken by the Algerian government, especially to facilitate and
encourage national and foreign investment, improve the business environment,
improve public financial management, and promote good governance and
transparency, as well as promoting economic diversification and exports outside
hydrocarbons.
During his meeting with the European
Union Economy Commissioner, the two parties discussed the status of bilateral
energy cooperation and strengthening the Algerian position in the European
market. The discussions also focused on ways and means of boosting this
cooperation in new fields, such as renewable energies and hydrogen. The issue
of diversifying the Algerian economy and the European Union’s contribution
through large investments in this framework was also addressed.
Source: www.echoroukonline.com