In order to provide financing, credit, and guarantees for African and Arab contracting companies involved in major projects funded by regional and international financing institutions, and as part of the Arab Contractors Union’s role in promoting the Arab construction industry and securing external work for Arab contractors, Engineer Hamdy Shahat, Secretary-General of the Arab Contractors Union, participated in a meeting organized by Engineer Hassan Abdelaziz, President of the African Contractors Union and Honorary President of the Arab Contractors Union, along with the Contractors Union of Islamic Countries. The meeting was also attended by the Director of the Islamic Corporation for the Insurance of Investment and Export Credit, and the Regional Manager for the Middle East and North Africa at the Islamic Corporation for the Insurance of Investment and Export Credit.
The meeting was attended by Dr. Malik Dengla, Ambassador Kamal Hassan Ali, the Union’s Advisors, as well as several heads and representatives of contracting companies.
During the meeting, the activities of the Development Fund were introduced, and discussions took place regarding partnership and cooperation between the two parties. The meeting also addressed inquiries from contracting companies.
At the end of the meeting, it was decided to form a joint committee between the Union and the Islamic Corporation for the Insurance of Investment. The committee will consist of Engineer Hassan Abdelaziz, President of the African Union of Construction Contractors and Honorary President of the Arab Contractors Union, Engineer Hamdy Shahat, the Secretary-General, Mr. Sherif Wahba, Secretary-General of the Lebanese Contractors Union, Ambassador Kamal Hassan Ali, the Union’s Advisor, and Dr. Malik Dengla, the Union’s Advisor.
It is worth noting that the Islamic Corporation for the Insurance of Investment and Export Credit is one of the key institutions affiliated with the Islamic Development Bank Group.
