Press Release

OFID Director-General heads high-level mission to Lebanon

48/2009 November 20, 2009 Beirut, Lebanon
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Mr. Suleiman J. Al-Herbish, Director-General of the OPEC Fund for International Development (OFID), concluded today a four-day mission, November 17-20, to the Republic of Lebanon where he participated in several high-level meetings.

The mission commenced with a meeting with HE General Michel Sleiman, the President of the Lebanese Republic. During the meeting, the Director-General highlighted OFID’s activities in the country and its support to various projects in the private and public sectors. Also highlighted was grants financing. HE General Sleiman acknowledged OFID’s continuous presence in Lebanon and thanked the institution for its active role in the development of the country. He said OFID has, on various occasions, extended much needed assistance especially during the recent challenging periods that the country has experienced.

Following the meeting with the President, Mr. Al-Herbish attended the Board meetings of two of OFID’s investee companies, Byblos Bank Africa (BBA) and Byblos Bank Syria (BBS). OFID is a shareholder in both banks.

Later on during the mission, the OFID delegation attended the Second Annual Conference of the Arab Forum for Environment and Development (AFED), November 19-20. Mr. Al-Herbish delivered an opening statement on the Forum’s first day during which he highlighted OFID’s mission world-wide and specifically within the Arab world. Mr. Al-Herbish also focused on the Forum’s continuing discussions on the importance of development in the ongoing challenge of Environment protection. He added that the environment as well as its sustainability is the main component of ensuring equitable and broad-based sustainable development. The Director-General stated that “OFID is committed to environmentally-friendly and ecologically-safe components in all its projects, taking an active approach in linking the preservation of the environment in all its dimensions.”

On the following day, Mr. Al-Herbish chaired a session entitled Towards Lower Carbon Economy: Challenges and Opportunities. The participants of this Session included Dr. Mohamed El-Ashry, former head of the Global Environment Facility (GEF) and member of the International Committee on Climate Change and Sustainable Development; Ms. Carol Sanford, Chief Executive Officer of Development Economics Group International; and Dr. Marwan Iskandar, Economist Consultant. The three speakers addressed, from their own perspectives, the challenges and the opportunities of transition to a green economy to help fight climate change.

In a separate session, Mr. Faris Hasan, Director of Corporate Planning and Economic Services Unit at OFID, presented a study conducted in partnership with the International Institute for Applied Systems Analysis (IIASA) on Biofuels - Environmental Impact and Food Security Issues. The study was first launched at the 4th OPEC International Seminar which took place in March 2009 in Vienna, Austria.

At the conclusion of the Conference, Mr. Al-Herbish in his capacity as a member of AFED’s Board of Trustees met with the Lebanese President for a second time. The Board briefed the President on the conclusions and recommendations of the Conference and the upcoming challenges facing the Arab world with regard to the environment.

  Arabic version