Arab Today, arab today icd signs deal to launch global publicprivatepartnership scheme
Last Updated : GMT 15:49:40
Arab Today, arab today
Arab Today, arab today

ICD signs deal to launch global public-private-partnership scheme

Arab Today, arab today

Arab Today, arab today ICD signs deal to launch global public-private-partnership scheme

Khaled Al-Aboodi, ICD’s CEO and general manager, and Li Xuhui
Beijing - Arab Today

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, and CNBM International Engineering Co. (CNBM-IE) signed a memorandum of understanding (MoU) recently.
It aims at conceptualizing, developing and structuring a global scheme for the development of social infrastructure projects in ICD’s 52 member countries.
Under the scheme, a public-private-partnership (PPP) mode of development called “design-finance-build-lease-transfer” (DFBLT) will be utilized in order to meet the funding gap.
Khaled Al-Aboodi, CEO and general manager of ICD, and Li Xuhui, vice president of CNBM-IE, signed the MoU on behalf of the two organizations in Beijing.
ICD noted that social infrastructure needs such as building of schools, clinics, and adequate housing in its member countries is huge, and the heightened levels of fiscal stress in some countries are making it challenging for governments to mobilize resources.
The cost of these projects is estimated to exceed $50 billion in the next five years.
Under the early stages of the proposed DFBLT scheme, ICD will lead the global marketing and financing-arrangement activities, while CNBM-IE will conduct all engineering, procurement and construction management (EPCM) activities.
It is envisaged that development financial institutions and donor countries including the industry players in the member countries will play a major role in the success of this scheme.
During the signing ceremony, Al-Aboodi commented: “Utilizing PPPs as a way of developing local private sector capabilities through joint ventures with reputable international firms such as CNBM-IE will not only be ideal for our member countries given the current economic circumstances, but it will also create opportunities for sub-contracting local firms and will result in improved operational efficiency.”
Al-Aboodi said: “We look forward to a successful working relationship with CNBM-IE, who we believe have the relevant expertise and engineering solutions for social infrastructure.”
Li Xuhui added: “This MoU will encourage a collaborative approach in tackling the pressing issues of social infrastructure in growth areas, and I am convinced that this partnership between CNBM-IE and ICD, a respectable multilateral financial institution, will be fruitful.”
CNBM-IE is a member company of CNBM Group of China which is a Fortune Global 500 Company, one of the largest global cement producers with 13 world-class national R&D institutes.
CNBM-IE has delivered 30 International EPC projects within last 10 years.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today icd signs deal to launch global publicprivatepartnership scheme Arab Today, arab today icd signs deal to launch global publicprivatepartnership scheme

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today icd signs deal to launch global publicprivatepartnership scheme Arab Today, arab today icd signs deal to launch global publicprivatepartnership scheme

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday