Latest news with #AbdelmadjidTebboune
Ya Biladi
4 hours ago
- Politics
- Ya Biladi
Following border closures, Polisario sends delegation to Mauritania
«A few hours after the phone conversation between Algerian President Abdelmadjid Tebboune and his Mauritanian counterpart Mohamed Ould El Ghazouani, a Polisario delegation was swiftly dispatched to Nouakchott», a well-informed source told Yabiladi. «The members of this delegation landed last night at Algiers Airport. Led by Sahrawi Parliament President Hamma Salama, accompanied by a military commander, the mission's goal is to persuade Mauritanian authorities to reverse their decision prohibiting Polisario members from illegally entering Mauritania to carry out armed attacks against Morocco, particularly from the Lebriga region near the Algerian border», the source added. Last week, the Mauritanian army declared the Lebriga area «off-limits to civilians», followed by a troop deployment along the border with Algeria. On Tuesday, May 27, Mauritanian soldiers reportedly blocked Polisario members attempting to cross into the zone, forcing them to turn back towards the Tindouf camps. The Polisario delegation is hoping to secure an audience with the Mauritanian president. In Nouakchott, they also plan to meet with political party representatives and the President of the Mauritanian Parliament, who has family ties with his Polisario counterpart. It's worth noting that following a phone call from Abdelmadjid Tebboune, President Ould El Ghazouani agreed to invite Brahim Ghali to his inauguration ceremony, scheduled for August 1, 2024, marking the start of his second term.
Zawya
4 days ago
- Business
- Zawya
Key Outcomes from Islamic Development Bank Group (IsDB)'s 13th Private Sector Forum in Algiers
The Islamic Development Bank Group (IsDBG) ( affiliated institutions organized the 13 th Private Sector Forum from May 20 to 22, 2025, at Abdelatif Rahal International Conference Center in Algiers (People's Democratic Republic of Algeria). The forum was convened on the sidelines of the Group's annual meetings, under the high patronage of His Excellency President Abdelmadjid Tebboune, President of the People's Democratic Republic of Algeria. The Islamic Development Bank Group's Private Sector Forum witnessed a wide turnout, with more than 1,300 participants from 50 countries. It featured active participation from the local, regional, and international private sectors. The program included eight (8) events and panel discussions, with the involvement of more than 50 speakers and 36 exhibitors. For the third consecutive year, the forum presented the "Private Sector Award" to outstanding companies and financial institutions in recognition of their contributions to economic development, trade facilitation, investment, and risk management. Additionally, the forum saw the signing of 26 agreements and memoranda of understanding, amounting to over $3.6 billion. A startup competition was also held, with participation from more than 300 startups and business incubators. More than 250 bilateral meetings (B2B and B2G) were conducted to enhance trade, investment, and partnership relations among member countries. The forum showcased the IsDB Group's activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the People's Democratic Republic of Algeria. The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group's suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others. The forum agenda featured a series of dialogue sessions and workshops addressing key economic themes and development projects. Particiants also attended presentations on trade and investment opportunities. The forum attracted high-level participation from Algerian government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions. In his opening remarks, His Excellency Dr. Mohammed Al Jasser, President of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: 'This forum is not just an annual event, but a renewed strategic platform through which we highlight the innovative tools and services offered by the Islamic Development Bank Group institutions to support investment and trade, and expand partnerships within our member countries, including the beloved Republic of Algeria. This session represents a unique opportunity for investors, businessmen, and CEOs from member countries to open channels of communication, establish partnerships, and forge business relations with their counterparts in the Republic of Algeria.' Dr. Khaled Yousef Khalafallah, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated that the Private Sector Forum 'witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. He added, 'Since its inception and until 2024, the ICIEC provided cumulative insurance coverage exceeding 121 billion USD, including 96 billion USD to support trade flows and more than 25 billion USD to facilitate foreign investments. Leveraging a robust global reinsurance network, the Corporation has mobilized a cumulative reinsurance capacity of 69 billion USD from the private reinsurance market. Through more than 65,000 transactions across vital sectors including agriculture, renewable energy, infrastructure, manufacturing, and healthcare, the Corporation continues to drive significant development impact across member countries." Regarding the ICD, Dr. Khalid stated 'Since its inception in 1999, the Islamic Corporation for the Development of the Private Sector (ICD) has played a pivotal role in fostering development, empowering businesses, promoting entrepreneurship, and supporting sustainable economic growth. Its diversified investments have had a tangible impact on communities by enabling transformative projects, facilitating partnerships, and building capacity. The Corporation has so far approved 575 projects worth 7.58 billion USD. ICD interventions cover various sectors, including finance, infrastructure, agriculture, manufacturing, and energy, and it has investment operations in 48 member countries, underscoring the broad geographic and sectoral reach of ICD operations.' On his part, Eng. Adeeb Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated, "The 13th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business investors greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.' He added, 'Since its launch in 2008, ITFC has extended over 83 billion USD in financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, 19 billion USD was allocated to enhance SMEs competitiveness – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets.' For more information, please visit the event website ( Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group). ICD: Website: ITFC: Tel: +966 12 646 8337 Fax: +966 12 637 1064 E-mail: ITFC@ THIQAH: Email: THIQAH@ Social Media: ICIEC: X: Facebook: LinkedIn: Youtube: Instagram: ICD: Twitter: @ ICD_PS LinkedIn: ICDPS Facebook: icdps Instagram: @ icdps YouTube: ICDPSTV ITFC: Twitter: @ ITFCCORP Facebook: @ ITFCCORP LinkedIn: International Islamic Trade Finance Corporation (ITFC) THIQAH: Twitter: @ IDBGTHIQAH Facebook: @ IDBGTHIQAH LinkedIn: IsDB Group Business Forum - THIQAH About The Islamic Development Bank (IsDB): The Islamic Development Bank (IsDB), rated AAA by major international rating agencies, is a multilateral development bank that has strived to improve the lives of the communities it serves for over 50 years by delivering impact at scale. Operating in 57 member countries across four continents, IsDB's mission is to empower people to drive their economic and social progress and provide the infrastructure needed to enable them to reach their full potential. Headquartered in Jeddah, Saudi Arabia, the Bank also operated regional offices and centers of excellence in 11 member countries. Over the years, the Bank has evolved from a single entity into a group of five entities comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) in charge of research and Training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC). About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): Established in 1994, ICIEC seeks to strengthen economic relations and stimulate trade and investment among OIC member countries through the provision of risk mitigation instruments and financial solutions. It remains the world's only multilateral insurer operating in compliance with Islamic Sharia. ICIEC currently serves 50 countries and has maintained its "Aa3" insurance credit rating from Moody's for 17 consecutive years – the among credit and political risk insurers. It also received a first-time long-term credit rating of AA- from Standard&Poor's with a stable outlook. The Corporation's resilience is underpinned by sound underwriting, reinsurance and risk management practices. To date, ICIEC has cumulatively insured over 121 billion USD in trade and investment across key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, visit: About the Islamic Corporation for the Development of the Private Sector (ICD): A member of the Islamic Development Bank Group, ICD is a multilateral financial institution with an authorized capital is 4 billion USD, of which 2 billion USD is available for subscription. Its shareholders comprise the Islamic Development Bank, 56 member countries, and five public financial institutions. Since its inception in 1999, the Corporation has played a pivotal role in fostering inclusive and sustainable growth through Shariah-compliant financing, cross-border investments, and vital infrastructure development. ICD has contributed significantly to enhancing the economic landscape of its member countries. About the International Trade Finance Corporation (ITFC): A member of the Islamic Development Bank Group, ITFC was established to promote trade among OIC member countries, contributing to their economic development and social well-being. Since commencing operations in January 2008, ITFC has provided over 83 billion USD in trade finance, becoming a leader in delivering tailored trade solutions. The Corporation's mission is to serve as a catalyst for trade development, helping member countries access finance and capacity building programs to enhance competitiveness and global market integration. About the Islamic Development Bank Group Business Forum (THIQAH): THIQAH serves as the private sector interface of the IsDB Group, facilitating engagement and collaboration between the Group entities and businesses in member countries. Its core aim is to build an inclusive, strategic platform for dialogue, cooperation and partnerships focused on high potentials investment opportunities. By leveraging IsDB Group resources, THIQAH offers support services and confidence to investors while promoting cross-border investment flows withing member countries. Website (
Russia Today
23-05-2025
- Business
- Russia Today
BRICS bank gets new member
Algeria has officially become a member of the New Development Bank (NDB), the financial institution established by the BRICS group of nations. The announcement was made by the NDB's press service on Thursday, citing the bank's president, Dilma Rousseff, who welcomed the North African nation's accession as a significant milestone for both Algeria and the bank. 'Algeria plays an important role not only in the economy of Northern Africa, but also at a global scale, and will definitely contribute to enhancing NDB's position in the global financial arena,' she noted. Rousseff emphasized the institution's commitment to co-financing development projects aimed at improving living standards and promoting economic progress. Algerian Finance Minister Abdelkrim Bouzred also welcomed the decision, saying: 'This membership is a testament to our belief in this institution's vital role in financing global development, and its status as a key player capable of providing alternative and innovative solutions to promote the growth and resilience of its member countries' economies.' In 2023, Algeria became one of four countries to move up in the World Bank rankings from low-income to upper-middle-income status. According to President Abdelmadjid Tebboune, Algeria has nearly eliminated its external debt, does not need loans from external organizations, and is actively diversifying non-hydrocarbon production to achieve self-sufficiency in various sectors. Both the International Monetary Fund and the World Bank classify Algeria as the third-largest economy in Africa, after South Africa and Egypt. Commenting on Algeria joining the NDB, Andrey Maslov, head of the Center for African Studies at Moscow's Higher School of Economics, told RT: 'For the BRICS, Algeria joining the bank is great news. The country has a good credit history, a trade surplus, and few debts. Algeria's ambitious export diversification program, as well as its infrastructure projects, require significant investments, and they can be good business for the bank.' 'However, the New Development Bank itself still has a long way to go before it becomes a viable alternative to Western-oriented financial institutions. For now, it is too dependent on the dollar and is acting cautiously to avoid secondary anti-Russian sanctions,' Maslov noted. The NDB was founded by the BRICS group in 2015 to address the needs of developing countries which, according to its members, are not equally represented in the international financial architecture. The NDB welcomed Bangladesh and the United Arab Emirates (UAE) as members in 2021, while Egypt joined in 2023. BRICS was established in 2009 by Brazil, Russia, India, and China, with South Africa joining two years later. In 2024, the bloc extended full membership to Iran, Egypt, Ethiopia, Indonesia, and the United Arab Emirates. Nigeria and Uganda became BRICS partner states in January 2025.
Saba Yemen
21-05-2025
- Business
- Saba Yemen
Greatest mines in Algeria, millions of tons of underground wealth
Algeria - Saba: Five mines in Algeria stand out among the list of strategic projects the state is counting on to achieve a qualitative shift in the structure of the national economy. These projects are considered a practical starting point for diversifying sources of income, strengthening manufacturing industries, and reducing dependence on oil and gas. These projects are supported by huge investment figures and employing thousands of workers. The specialized "Energy" platform listed the five most prominent mines in Algeria that have spearheaded the country's vision to exploit the country's untapped mineral potential, which until recently was only 10% exploited. The five most prominent mines in Algeria include resources of iron ore, phosphate, zinc, and lead, and their prospects extend to include gold and even diamonds. With Algerian President Abdelmadjid Tebboune's directives to make mineral resources a priority in economic policy, the pace of work on the ground has accelerated to launch and activate major mining projects that had been postponed for decades. National and international partnerships have been harnessed to complete them within record timeframes. This step represents a real transformation, as 2023 witnessed what can be described as the "year of mining resurgence," following the launch of several such projects across the country, from the southwest to the far northeast. Ghar Djebilet Mine The Djebilet gas mine is the largest of Algeria's five major mines, with a massive reserve estimated at 3.5 billion tons of iron ore, of which 1.75 billion tons are directly exploitable. The mine, discovered in 1952, is located in southwestern Algeria. However, its actual exploitation did not begin until 2022, making it one of the most delayed projects in Algeria, despite its importance. The project was launched as part of an Algerian-Chinese partnership under the supervision of the National Iron and Steel Company (FERA) and the Chinese consortium CMH. During its first phase (2022-2025), it will produce between 2 and 3 million tons annually, increasing to 50 million tons starting in 2026, following the completion of the 950-kilometer railway line to the city of Béchar. Jebel Onk Mine The Jebel Onk mine is the second largest project among the five major mines in Algeria, representing the backbone of the integrated phosphate project in the east of the country. According to Algerian mining sector data from the specialized energy platform, Jebel Onk covers the provinces of Tebessa, Souk Ahras, Skikda, and Annaba. This mine's reserves are estimated at 2.8 billion tons of phosphate, and the project aims to produce 10 million tons of raw material annually, 6 million tons of phosphate concentrate, and approximately 4 million tons of fertilizer. Investments in the Jebel Onq mine have reached approximately $7 billion, and are the result of a partnership between national companies (Asmidal and Algerian Mines) and Chinese companies (Wuhan and Yunnan Tian'an). Tala Hamza Mine The Tala Hamza-Oued Amizour mine is one of the new projects included in the Ministry of Energy and Mines' plans. It is located in the Tala Hamza region of Bejaia province and covers an area of 23.4 hectares. Oued Amizour is also one of the five most prominent mines in Algeria, with reserves estimated at 34 million tons of zinc ore, placing it among the top ten globally. The project's foundation stone was laid at the end of 2023, as part of an Algerian-Australian partnership with an investment of $400 million. Scheduled to begin operations in July 2026, the mine is expected to produce approximately 170,000 tons of zinc concentrate and 30,000 tons of lead annually, providing thousands of jobs and subject to strict environmental standards. Amsemsa Mine The Amsemsa gold mine, located 460 kilometers in the In Guezzam region, west of Tamanrasset Province, the far south of the country near the border with Niger, was discovered and developed by GMA Resources PLC. It is one of the top five mines in Algeria, being the country's largest gold producer. The mine's gold deposits amount to approximately 70 tons, with proven reserves estimated at approximately 3.38 million tons. It represents a sample of the mines spread throughout the Hoggar region in southern Algeria, a region with difficult geological terrain and abundant precious metals. Jebel Reggane Mine Although not yet operational, the Jebel Reggane region in Adrar Province is considered one of the regions with significant potential for diamond production, according to recent geological studies. This site is currently undergoing intensive exploration and could become a promising mine in the future, placing it among the top five mines in Algeria, worth $30 billion. Whatsapp Telegram Email Print
Zawya
21-05-2025
- Business
- Zawya
The Islamic Development Bank Group affiliated institutions organized the 13th Private Sector Forum in Algiers
ALGIERS, Algeria -- The Islamic Development Bank Group (IsDBG) ( affiliated institutions organized the 13th Private Sector Forum from May 20 to 22, 2025, at Abdelatif Rahal International Conference Center in Algiers (People's Democratic Republic of Algeria). The forum was convened on the sidelines of the Group's annual meetings, under the high patronage of His Excellency President Abdelmadjid Tebboune, President of the People's Democratic Republic of Algeria. The forum highlighted the IsDB Group's activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the People's Democratic Republic of Algeria. The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group's suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others. The forum agenda featured a series of dialogue sessions and workshops addressing key economic themes and development projects. Particiants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of success ventures. The forum attracted high-level participation from Algerian government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions. In his opening remarks, His Excellency Dr. Mohammed Al Jasser, President of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: 'This forum is not just an annual event, but a renewed strategic platform through which we highlight the innovative tools and services offered by the Islamic Development Bank Group institutions to support investment and trade, and expand partnerships within our member countries, including the beloved Republic of Algeria. This session represents a unique opportunity for investors, businessmen, and CEOs from member countries to open channels of communication, establish partnerships, and forge business relations with their counterparts in the Republic of Algeria.' In his turn, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated that the Private Sector Forum 'witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries' exports, and create new job opportunities.' He added, 'Since its inception and until 2024, the ICIEC provided cumulative insurance coverage exceeding 121 billion USD, including 96 billion USD to support trade flows and more than 25 billion USD to facilitate foreign investments. Leveraging a robust global reinsurance network, the Corporation has mobilized a cumulative reinsurance capacity of 69 billion USD from the private reinsurance market. Through more than 65,000 transactions across vital sectors including agriculture, renewable energy, infrastructure, manufacturing, and healthcare, the Corporation continues to drive significant development impact across member countries." On his part, Eng. Adeeb Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated, "The 13th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business investors greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.' He added, 'Since its launch in 2008, ITFC has extended over 83 billion USD in financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, 19 billion USD was allocated to enhance SMEs competitiveness – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets.' For more information, please visit the event website ( Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group). Media Contact: ICIEC: Email: ICIEC-Communication@ ICD: Website: ITFC: Tel: +966 12 646 8337 Fax: +966 12 637 1064 E-mail: ITFC@ THIQAH: Email: THIQAH@ Social Media: ICIEC: X: Facebook: LinkedIn: YouTube: Instagram: ICD: Twitter: @ ICD_PS LinkedIn: ICDPS Facebook: icdps Instagram: @ icdps YouTube: ICDPSTV ITFC: Twitter: @ ITFCCORP Facebook: @ ITFCCORP LinkedIn: International Islamic Trade Finance Corporation (ITFC) THIQAH: Twitter: @ IDBGTHIQAH Facebook: @ IDBGTHIQAH LinkedIn: IsDB Group Business Forum - THIQAH About The Islamic Development Bank (IsDB): The Islamic Development Bank (IsDB), rated AAA by major international rating agencies, is a multilateral development bank that has strived to improve the lives of the communities it serves for over 50 years by delivering impact at scale. Operating in 57 member countries across four continents, IsDB's mission is to empower people to drive their economic and social progress and provide the infrastructure needed to enable them to reach their full potential. Headquartered in Jeddah, Saudi Arabia, the Bank also operated regional offices and centers of excellence in 11 member countries. Over the years, the Bank has evolved from a single entity into a group of five entities comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) in charge of research and Training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC). About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): Established in 1994, ICIEC seeks to strengthen economic relations and stimulate trade and investment among OIC member countries through the provision of risk mitigation instruments and financial solutions. It remains the world's only multilateral insurer operating in compliance with Islamic Sharia. ICIEC currently serves 50 countries and has maintained its "Aa3" insurance credit rating from Moody's for 17 consecutive years – the among credit and political risk insurers. It also received a first-time long-term credit rating of AA- from Standard & Poor's with a stable outlook. The Corporation's resilience is underpinned by sound underwriting, reinsurance and risk management practices. To date, ICIEC has cumulatively insured over 121 billion USD in trade and investment across key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, visit: About the Islamic Corporation for the Development of the Private Sector (ICD): A member of the Islamic Development Bank Group, ICD is a multilateral financial institution with an authorized capital is 4 billion USD, of which 2 billion USD is available for subscription. Its shareholders comprise the Islamic Development Bank, 56 member countries, and five public financial institutions. Since its inception in 1999, the Corporation has played a pivotal role in fostering inclusive and sustainable growth through Shariah-compliant financing, cross-border investments, and vital infrastructure development. ICD has contributed significantly to enhancing the economic landscape of its member countries. About the International Trade Finance Corporation (ITFC): A member of the Islamic Development Bank Group, ITFC was established to promote trade among OIC member countries, contributing to their economic development and social well-being. Since commencing operations in January 2008, ITFC has provided over 83 billion USD in trade finance, becoming a leader in delivering tailored trade solutions. The Corporation's mission is to serve as a catalyst for trade development, helping member countries access finance and capacity building programs to enhance competitiveness and global market integration. About the Islamic Development Bank Group Business Forum (THIQAH): THIQAH serves as the private sector interface of the IsDB Group, facilitating engagement and collaboration between the Group entities and businesses in member countries. Its core aim is to build an inclusive, strategic platform for dialogue, cooperation and partnerships focused on high potentials investment opportunities. By leveraging IsDB Group resources, THIQAH offers support services and confidence to investors while promoting cross-border investment flows withing member countries. Website ( SOURCE: Islamic Development Bank Group (IsDB Group)
