(MENAFN- AzerNews) The world needs another paradigm shift bringing together newtypes of inclusive economics, Abdallah Al Dardari, UNDP ResidentRepresentative in Afghanistan, said during the panel discussions onPathway to Prosperity, Azernews reports.
Multidimensional Poverty in Islamic Development Bank (IsDB)Member Countries held as part of the IsDB annual meetings.
“When we were working on the Millennium Development Goals(MDGs), we had a very good tool that could be linked to the MDGsprogress and achievements. So that was a considerable paradigmshift in our thinking about economics in general. But then, when westarted facing further challenges, which are inequality, uneaseamongst societies and within societies, leading to fragility and toconflict, it was difficult to say what's the reason, how come wehave a good GDP growth and there is fragility in the society,” hesaid.
Al-Dardari believes that neoclassical economics has reached thelimits.
“Therefore we need to think about another paradigm shift thatbrings together new types of inclusive economics. We are happy tobe partnering with this and take humanity one step further inunderstanding the relationships between economics, human welfare,wealth, distribution, and sustainability,” he added.
The Islamic Development Bank Group (IsDB) is holding its 2024Annual Meetings and Golden Jubilee in Riyadh from April 27-30,under the Royal Patronage of the Custodian of Two Holy Mosques,King Salman Bin Abdulaziz Al-Saud.
The 2024 Annual Meetings are being held under the theme of“Cherishing our Past, Charting our Future: Originality, Solidarityand Prosperity”, which marks IsDB's 50 years of fosteringsocio-economic development in its member countries.
Among other topics, the meetings will also feature a roundtableon COP29 with the participation of Azerbaijani governmentrepresentatives.
As the premier South-South multilateral development Bank, the2024 IsDB Group Annual Meetings and Golden Jubilee are expected toattract international and regional attention. The Annual Meetingswill feature a series of side events with top-level panelists fromgovernment, international and regional organizations, the privatesector, academia, and civil society.
Ministers of Economy, Planning, and Finance from IsDB's 57member countries will participate in the event, along withrepresentatives of international and regional financialinstitutions, Islamic banks, private sector companies, national andinternational development finance institutions, international andregional organizations, NGOs, chambers of commerce & Industry, andbusiness councils.
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