Negotiations between the Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org) and Golden Global Investment Bank have successfully concluded with the signing of a letter of intent, for the proposed extension of a USD 20 million line of finance facility, during the IsDB Group’s 2024 Private Sector Forum. The line will be utilized by Golden Global Investment Bank for onward financing of eligible private sector projects in Türkiye. A definitive agreement will be finalized following thorough due diligence and the acquisition of all requisite internal approvals from ICD.

The signing ceremony held in Riyadh was attended by Eng. Hani Salem Sonbol, Acting CEO of ICD, and Metin Akdoğan, Deputy CEO of Golden Global Investment Bank. Commenting on the agreement, Mr. Akdoğan said, “The letter of intent we have signed with the subsidiary of a renowned institution like ICD, a member of the Islamic Development Bank Group which is considered an authority in Islamic Banking, is a testament to our bank’s reliability and reputation in the industry. In addition, this cooperation clearly demonstrates our commitment to the private sector in Türkiye and our desire to contribute to the development of the country. With the support of Golden Global Investment Bank and ICD, private sector enterprises will be poised to increase investments, create new jobs, and strengthen the Turkish economy further.”

In addition to bolstering the Turkish economy, Golden Global Investment Bank aims to forge relationships with new institutional investors and expand its investor base in international markets. The bank has recently completed its first international Sukuk issuance, raising EUR 30 million within the scope of the “Sukuk Issuance Program” amounting to a total of 200 million USD. Golden Global Investment Bank’s credit rating has been upgraded from BBB- (tr) to A- (tr) by JCR Eurasia Rating, an international credit rating firm with Turkish capital, placing the Bank in the high investment level category.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

About Golden Global Investment Bank:
Golden Global Investment Bank stands out as Türkiye’s first investment bank dedicated to interest-free banking principles. Officially commenced its operations in June 2020, Golden Global Investment Bank takes a boutique banking approach, prioritizing personalized service and innovative financial solutions. The Bank offers investment banking, transactional banking (cash management and international trade finance) and treasury products and services to corporate and commercial banking customers while adopting interest-free financing. Golden Global Investment Bank reported robust financial growth in 2023. By year-end, total assets had significantly increased by 382.43% to TL 12.4 billion. Equity also demonstrated strong growth, rising 263.47% to TL 1.3 billion. As of January 1, 2024; JCR Eurasia Rating has affirmed Golden Global Investment Bank’s creditworthiness by upgrading the Long-Term National Issuer Credit Rating from BBB- (tr) to A- (tr) within the high investment level category.

About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD’s mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises.  ICD is rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A-’ by S&P.

Springbok Women head coach Louis Koen applauded his troops for their structured approach in their final match of the Rugby Africa Women’s Cup on Sunday, with the victory over Madagascar not only confirming Rugby World Cup 2025 qualification, but also sealed WXV 2 entry.

The South Africans beat Madagascar by 46-17 (https://apo-opa.co/4dFhkUU) to defend their title as African champions and kept their undefeated record at Stade Makis in Antananarivo, which now stands at six consecutive Tests.

“I am very proud of their effort today, but also in the first two matches of the tournament,” said Koen.

“It is tough playing three matches in 10 days and credit to the players who came out today and executed well. We really played well in the first half to lay the foundation for the win.

“We did concede tries that we will not normally do, but credit to Madagascar, who never stopped trying and pushing hard with the huge crowd behind them. We can certainly learn from these spectators how to support women’s rugby; they were really good today.”

Koen said their opponents’ unconventional approach could easily have worked, but the Bok Women stuck to their patterns and plays and did not allow the home side into the game at all.

“They really play a different style of rugby, but we shut them out in that first half and laid a proper foundation for the win,” said Koen, who took charge of the team just over a year ago and believes the future of the Springbok Women is bright.

“We have a big number of regulars not here at this tournament and it is credit to those less experienced players who stepped up here in Madagascar and made sure we are going to England next year.

“Qualifying for the Rugby World Cup is a massive boost to all involved and I can only thank the stakeholders, players and management who walked this journey together. The game can only grow and improve from here.”

South Africa’s captain, Nolusindiso Booi, agreed with Koen: “We play to inspire the next girl or woman to pick up a rugby ball and I think this win and qualifying for the Rugby World Cup will mean so much to those who want to see the game grow.

“We are on the big stage and belong there, so the next steps are important. We laid the foundation for the next phase and it is so exciting to be part of it. Credit to the players, but so much praise must go to the coaches who prepared us so well for this.”

The Bok Women will arrive in South Africa on Monday and the players will return to their provinces for the Women’s Premier Division.

Issued by SA Rugby Communications

Distributed by APO Group on behalf of South African Rugby.

Note to editors:
Audio notes of Louis Koen and Nolusindiso Booi can be downloaded here (https://apo-opa.co/3ya2JAE).

On the sidelines of the 2024 Stockholm Forum on Peace and Development, the African Development Bank (www.AfDB.org) and the Stockholm International Peace Research Institute (SIPRI) have signed a Memorandum of Understanding to further advance their collaboration.

The agreement builds on the existing cooperation between both organizations and underlines their joint commitment to deepen the understanding of drivers of fragility and insecurity, and to promote actions that prevent conflicts and build resilience in Africa.

Speaking on the partnership, Marie-Laure Akin-Olugbade, African Development Bank Vice President, Regional Development, Integration and Business Delivery noted: “Our MoU with SIPRI reflects the Bank’s continued strong commitment to enhance its operational effectiveness in fragile settings. We aim to build resilience at scale on the continent and advance the prevention agenda through innovative partnerships across the humanitarian-development-peace (HDP) nexus. This is in line with the Bank’s new Ten-Year Strategy as well as the Strategy for Addressing Fragility and Building Resilience in Africa.”

This innovative partnership between the Bank and the globally recognized research institute will pursue the following objectives:

Knowledge and capacity building – Deepen knowledge and understanding of the drivers of fragility, conflict and resilience; channel such knowledge, including of best practices and innovations, into policy dialogues and capacity enhancement for the Bank, African member countries and other humanitarian, development, and peace actors.
Operational effectiveness- Enhance the Bank’s programming and project design in fragile contexts and conflict-affected states by strengthening the evidence base of the Bank’s interventions— this includes the Bank’s projects and programs on climate-related peace and security risks.
Partnerships and resource mobilization- Expand and deepen existing partnerships in line with the strategic objectives of the Bank and SIPRI; mobilize resources through collaboration, including at important international forums. The joint knowledge products and related findings can also support resource mobilization for AfDB’s programming.

Accordingly, the partnership framework over the next 5 years will cover research, data, analysis and capacity development; policy and development effectiveness; and partnerships and resource mobilization.

Dan Smith, Director of SIPRI said: “With this new MoU, we will be leveraging our respective expertise and resources to contribute to system-wide approaches to tackle the interconnected issues of fragility, conflict, and climate change.” He continued: “By deepening the understanding of the drivers of conflict and insecurity, and the opportunities for sustainable peace, the partnership aims to enhance the policies, programs and interventions of the Bank and its partners, which will benefit some of the most vulnerable communities across the continent”.

Yero Baldeh, Director, Transition States Coordination Office at the African Development Bank stated: “With regards to the specific outcomes and results expected throughout the MoU duration, these will be captured in an evolving Partnership Workplan guiding the envisioned implementation. The partnership will strengthen the knowledge base, build capacities, inform policy dialogues and mobilize resources.”

The ceremony was prepared by the designated partnership focal points from both organizations, including  Sepideh Soltaninia, Head of the Director’s Office&Partnerships Manager at SIPRI, Frederik Teufel, Lead Coordinator and Jerome Berndt, Principal Fragility and Resilience Officer, of the Transition States Coordination Office at the African Development Bank.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
African Development Bank
Amba Mpoke-Bigg
email: media@afdb.org

About SIPRI:
Established in 1966 by the decision of the Swedish Parliament, SIPRI has the legal status of an independent foundation. SIPRI’s vision is a world in which sources of insecurity are identified and understood, conflicts are prevented or resolved, and peace is sustained. SIPRI’s mission is to: (i) undertake research and activities on security, conflict and peace; (ii) provide policy analysis and recommendations; (iii) facilitate dialogue and build capacities; (iv) promote transparency and accountability; and (v) deliver authoritative information to global audiences. 

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

The second edition of the Invest in African Energy (IAE) forum will kick off on Tuesday, May 14 in Paris, uniting the African and global energy industry for two days of discussions, networking and deal-making opportunities.

The two-day forum has confirmed the participation of African energy ministries, NOCs, service providers and regulators from Angola, Egypt, Equatorial Guinea, Gabon, The Gambia, Guinea-Conakry, Ivory Coast, Morocco, Nigeria, Republic of the Congo, Sierra Leone, Senegal and South Africa. These target markets will showcase key projects open to private sector participation – including licensing rounds, farm-in opportunities and more – through technical presentations, country-specific sessions and regional market spotlights. A highly anticipated ministerial panel on Day 2 will map Africa’s path in the just energy transition, amid shifting energy priorities and global environmental policies.

IAE 2024 is an exclusive forum designed to foster collaboration between European investors and African energy markets. Taking place May 14-15, 2024, in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors, and policymakers. For more information, please visit www.Invest-Africa-Energy.com.

The event has also attracted the attention of global investors, bringing together operators, exploration and production companies, technology and service providers, development finance institutions, multilateral banks, investment platforms and trade and development organizations from the Middle East, Europe, the U.S. and Asia. IAE 2024’s international, high-level attendance speaks to sustained interest in developing Africa’s energy resources for enhanced energy security on the continent and across the globe. A series of panel discussions will explore future proofing Africa’s gas and LNG industry; creating opportunities in Africa’s energy system; financing African renewable energy projects; unlocking midstream and downstream investment; new opportunities in key growth markets; and more.  

“IAE 2024 is set to be the premier African energy project showcase taking place outside of the African continent. We invite energy industry stakeholders to register and attend the forum – kicking off tomorrow – as we look forward to two productive days of deal-making and discussions in Paris,” says Sandra Jeque, Event&Project Director at Energy Capital&Power, forum organizers.

Distributed by APO Group on behalf of Energy Capital&Power.