Faid Hosts World Bank Vice President Osmane Dione to Deepen Strategic Cooperation in MENA Region

BY: Dr. Hana Saada

Algiers, Algeria | December 9th, 2024 — Laaziz Faid, Algeria’s Minister of Finance, held a pivotal meeting on Sunday in Algiers with Osmane Dione, the World Bank’s Vice President for the Middle East and North Africa (MENA) region. The high-level discussions underscored the enduring partnership between Algeria and the World Bank, with a focus on bolstering economic resilience, advancing diversification, and elevating Algeria’s regional influence.

Enhancing Economic Resilience Amid Global Challenges

The meeting served as an opportunity to analyze global economic trends and their implications for the MENA region. According to a statement from the Ministry of Finance, discussions revolved around actionable strategies to fortify economies in the face of prevailing uncertainties. Both parties evaluated the current state of cooperation and deliberated on medium-term initiatives to expand this collaboration.

Minister Faid emphasized the effectiveness of ongoing World Bank-supported programs, particularly in capacity-building and economic diversification. He highlighted Algeria’s commitment to sustaining its positive economic performance amidst a volatile global environment. Faid outlined Algeria’s strategic framework, which prioritizes national socio-economic development while navigating the complexities of global economic and financial systems.

Algeria as a Regional Leader

Osmane Dione praised Algeria’s potential to emerge as a regional leader in the MENA region, citing its advantageous geographic position, robust connectivity, geopolitical stability, and abundant natural resources. “Algeria has the capacity to become a key logistics hub and a driver of regional development,” Dione remarked, adding that the nation’s climatic diversity and access to neighboring markets further strengthen its position.

Dione also commended Algeria for its “vigorous and sustainable” economic recovery, which he noted could serve as a model for other nations in the region.

Expanding Cooperation for Diversification and Innovation

The discussions emphasized the necessity of diversifying Algeria’s economy by focusing on niche sectors such as agriculture and tourism. Dione encouraged Algeria to continue fostering a business-friendly environment for foreign direct investment (FDI), driven by digital innovation and modernization.

“Investing in human capital and private sector growth will be instrumental in enhancing competitiveness and service quality,” Dione stressed. These efforts, he suggested, would further position Algeria as a hub for innovation and sustainable development.

Strengthened Partnership with the World Bank

Faid expressed Algeria’s interest in deepening its partnership with the World Bank to leverage its extensive array of technical assistance and advisory tools. Dione reaffirmed the World Bank’s commitment to supporting Algeria’s development aspirations through tailored initiatives and expanded collaboration.

Engagement with Government Officials and Startups

Dione’s visit to Algeria, his second since assuming the vice-presidency in April, includes meetings with other key government officials and national institutions. These discussions aim to identify sector-specific development needs and explore new avenues for cooperation.

Additionally, Dione participated in the third edition of the African Startup Conference, held from December 5 to 7, which showcased Algeria’s growing innovation ecosystem.

The visit underscores a shared vision between Algeria and the World Bank for sustainable economic development, fostering a future where Algeria solidifies its position as a MENA leader in resilience, innovation, and inclusive growth.

About Dzair Tube Media Group

Dzair Tube has firmly positioned itself as a leading force in Algerian digital journalism, delivering a rich and diverse array of content. Available in Arabic, French, and English, Dzair Tube captivates a broad audience, drawing over half a million daily clicks.

The platform’s excellence was notably recognized with the prestigious President of the Republic’s Award for Professional Journalist in the Electronic Press category on October 22, 2022. This accolade underscores Dzair Tube’s steadfast commitment to the highest journalistic standards.

Dzair Tube’s substantial online footprint includes 350,000 YouTube subscribers, over six million followers across various Facebook pages, and 450,000 Instagram followers. The digital channel serves as a nexus for a wide range of programming, spanning news, sports, entertainment, culture, and religion, catering to a diverse audience.

Boasting cutting-edge studios and advanced technology, Dzair Tube’s digital channel has attracted a significant viewership with its varied programs. It facilitates interactive discussions with key figures from various sectors, promoting public discourse and engagement. Beyond news, Dzair Tube excels in producing marketing documentaries, short TV commercials, and high-viewership shows.

The print edition of Dzair Tube’s sports newspaper, “Dzair Sport,” further attests to the platform’s influence, with over 50,000 daily downloads from the official Dzair Tube website.

Awarded the Media Leadership Award by the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the Algerian digital media landscape, maintaining its position of influence and impact. Additionally, Dzair Tube’s prominence in Algeria’s media scene was celebrated at the ninth edition of the “Hilals of the Television” competition, solidifying its status as a media leader.

Stay Connected with Dzair Tube