International Islamic Trade Finance Corporation (ITFC)’s Post

TRIPARTITE FREE TRADE AREA AGREEMENT SHALL BE SIGNED BETWEEN LESOTHO (SADC) COMESA and EAC The Chamber of Commerce and Industry will witness a signing ceremony of the Tripartite Free Trade Area of the Regional Economic Communities between COMESA, EAC and SADC. We hope the pact will increase our Continent’s resilience to future shocks. The 3 pillars of TFTA are: Market Integration, Industrialization and Infrastructure Development. These pillars are meant to support each other, and they are supported by transversal themes such as, resource mobilization and movement and movement of business persons. It is expected that Ministries from Trade, Home Affairs and Foreign Affairs shall grace this event with their presence. #TFTA #SADC #COMESA #EAC #BuildingabetterAfrica

TRIPARTITE FREE TRADE AREA AGREEMENT SHALL BE SIGNED BETWEEN LESOTHO (SADC) COMESA and EAC The Chamber of Commerce and Industry will witness a signing ceremony of the Tripartite Free Trade Area of the Regional Economic Communities between COMESA, EAC and SADC. We hope the pact will increase our Continent’s resilience to future shocks. The 3 pillars of TFTA are: Market Integration, Industrialization and Infrastructure Development. These pillars are meant to support each other, and they are supported by transversal themes such as, resource mobilization and movement and movement of business persons. It is expected that Ministries from Trade, Home Affairs and Foreign Affairs shall grace this event with their presence. #TFTA #SADC #COMESA #EAC #BuildingabetterAfrica

Assessing Private Sector Potential in Yemen The The World Bank has just released a comprehensive new report exploring the dynamics of Yemen's private sector both during and before the ongoing conflict. As an organization dedicated to evaluating development programs and policy in Yemen, #EvalYemen carefully reviewed the findings and was impressed by the depth of analysis. Despite the enormous challenges Yemen faces, the report provides encouragement that the private sector can play a key role in economic recovery if the right conditions are established. It explores in detail how the conflict has impacted businesses and whole sectors over recent years. While GDP has declined dramatically and poverty increased, the report finds evidence that the private sector has shown resilience through its ability to adapt and meet basic needs. Of particular interest to EvalYemen were the policy recommendations laid out. We strongly believe immediate reforms are needed at the local level to help lift restrictions on trade and access to finance. Removing barriers that currently impede the 95% of MSMEs operating informally should be a top priority. The report also sensibly calls for cost-free measures like adopting international trade conventions, which could reintegrate Yemen into the global economy. Looking ahead to reconstruction, Dobromir Christow from the World Bank outlines a framework for coordinated financial and structural interventions. Large companies need support to take part in rebuilding infrastructure and key sectors. But inclusive growth will depend on bring the many excluded small businesses and women entrepreneurs into the formal system. Overall, the quality and evidence-based analysis in this report gives us confidence in its assessment of private sector dynamics and the reforms required. #EvalYemen endorses the findings and recommendations as an important roadmap for stakeholders. With the right policies and enabling environment, Yemen's entrepreneurial spirit can play a leading role in future economic recovery and development. Nashwan Ahmed Global Evaluation Initiative Dugan Fraser Eval Yemen EvalPartners

I would like to to add my perspective on the report "Connecting the Yemeni Private Sector to the World" from the lens of M&E capacity building efforts in Yemen led by EvalYemen: - The report provides a helpful baseline assessment of the current state of the private sector in Yemen that M&E efforts can build upon. Establishing the pre-conflict context as well as analyzing the impact of the ongoing conflict sets the stage for monitoring progress over time. - #EvalYemen could work with #private #sector partners, the The World Bank, and other stakeholders to develop an #M&E #framework focused on the goals outlined in the report. Key aspects to measure include increasing trade and investment, strengthening regulatory environments, fostering financial inclusion, and supporting MSMEs/women-owned businesses. Both quantitative and qualitative indicators would be needed. - Disaggregating data by governorate/area of control would be important given the fragmented nature of Yemen. Subnational M&E could help track localized impacts and inform context-specific solutions. Partnerships with local chambers of commerce may aid data collection. - Particular attention should be paid to tracking recommendations for immediate subnational reforms, as progress on "parallel reforms" could contribute to economic stability and long-term peacebuilding outcomes. EvalYemen is well-positioned to assess implementation challenges. - Evaluating outcomes, not just outputs or process indicators, will require long-term commitments. But demonstrating impact on livelihoods, incomes, aggregate GDP will help sustain investment in the private sector over the reconstruction period. - Regional and global integration is emphasized, so cross-country comparisons on trade/investment metrics may provide useful evaluative perspectives over time. International partnerships can support comparative M&E. - Overall, this report presents a solid foundation for EvalYemen and others to develop a results-based framework to guide and learn from private sector development interventions in Yemen's challenging operating environment. Rigorous M&E will be important for accountability and adaptive programming. Global Evaluation Initiative

In an era of global challenges, the Belt and Road Initiative (#BRI) stands as a beacon of vision and proactive action, charting a course towards interconnected development. At the 3rd BRI forum, Saudi Arabia's finance minister lauded the initiative, acknowledging that 'China stepped up when no one else did, China took the risk when people didn't want to take the risk.' This sentiment reaffirms the significance of initiatives like #CPEC and the powerful impact of collaboration between nations. The Belt and Road Forum 2023 further underscores the commitment to fostering sustainable growth and international cooperation.

I had a great pleasure to work alongside João Paulo Galvão, the most experience interpreter that has been covering IMF missions to São Tomé and Principe for over 20 years. what a great opportunity to absorb knowledge to improve my interpretation skills. #IMF #consecutiveinterpretation #SaoTomeandPrincipe #Financialsector #sustainablegrowth