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Islamic Development Bank mulls cooperation with COMESA

Xinhua, April 1, 2016 Adjust font size:

The Islamic Development Bank (IDB) has expressed willingness to explore cooperation with Africa's largest trading bloc, the Common Market for Eastern and Southern Africa (COMESA), a senior official said on Wednesday.

Ali Abi Talib Mahmoud, the bank's senior cooperation specialist, who recently visited the COMESA secretariat in Lusaka, said the bank was willing to cooperate with the regional bloc on regional integration programs.

The bank, he said, was also willing to cooperate with the regional bloc in other areas such as cross border cooperation, improving regional exports or intra-regional trade as well as enhancing the competiveness of the private sector in the regional markets.

"COMESA has the highest number of IDB members among regional economic communities in Africa. Direct cooperation with COMESA will provide an appropriate avenue for further strengthening the bank's support to the member states," he said, according to a statement release by the COMESA secretariat.

Nagla El Hussainy, COMESA's acting secretary general said the regional bloc was ready to work with the bank on furthering the already existing cordial relationship.

Six COMESA member states namely the Comoros, Djibouti, Egypt, Libya, Sudan and Uganda belong to the Organization of Islamic Cooperation. Endit