Category: Press Releases

JEDDAH, Kingdom of Saudi Arabia, 11 May 2023 – In conjunction with the IsDB Group Annual Meetings underway in Jeddah, Kingdom of Saudi Arabia, the Islamic Development Bank (IsDB) and its affiliated private sector institutions launched the 11^th edition of the Private Sector Forum (PSF).

Taking place from 11-13 May 2023 at a dedicated PSF Pavilion within the King Abdullah Congress Center-Ritz Carlton Hotel, Jeddah, PSF serves as a solution-oriented medium to connect global business communities. The three-day event seeks to provide the participants with a chance to establish and consolidate commercial relationships, and to network and explore trade opportunities available within IsDB Member Countries (MCs) and its partners.

Held under the theme of “Partnerships to Fend off Crises,” the 11th edition of PSF is set to be attended by more than 2,000 people from 80+ countries, providing an engaging platform for participants to listen to more than 70 industry experts speak during the forum’s sessions. 

With the aim of further encouraging economic and social development among IsDB member countries, PSF 2023 also covers the ongoing initiatives, programs and support provided by IsDB in its 57 member countries.

In his keynote speech at PSF opening ceremony, IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, said: “The IsDB Group’s Private Sector Forum is a collaborative, forward-thinking event by which attendees are able to convene and discuss key developments related to private sector growth. We also aim to give PSF participants the chance to explore solutions for specific economic challenges including investment insurance and export credit implementation which are key to supporting growth and development. We look forward to providing a fantastic event as we explore the next steps in enhancing connectivity among global business communities.”

The inaugural session of PSF under the theme “Building Resilience through Private Sector Partnerships,” showcased how partnerships within the private sector are pivotal to achieving the IsDB Group’s private sector strategy. The session explored concrete cases of effective PPPs, saw examples of synergy between private sector entities and aimed to seek collaboration to address pressing development issues.

Combining its diverse products and expertise in trade finance, risk mitigation, credit enhancement, and long-term financing instruments, IsDB Group’s entities maximize the Group’s value proposition by delivering on its mandates. By fostering an environment that encouraged collaboration and engagement, PSF allows participants to discuss several key challenges which hinder the respective business communities in MCs. The IsDB Group entities include the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the International Islamic Trade Finance Corporation (ITFC), and the Islamic Corporation for the Development of the Private Sector (ICD).

JEDDAH, Kingdom of Saudi Arabia, 11 May 2023 – Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, and Minister of Economy and Finance of the Republic of Benin who is also Chairman of IsDB Board of Governors, H.E. Romuald Wadagni,  addressed the media during a press conference held as part of the 2023 Annual Meetings of the IsDB Group taking place in Jeddah, Kingdom of Saudi Arabia, from 10-13 May.

Opening the press conference, H.E. Dr. Muhammad Al Jasser expressed profound appreciation to The Custodian of The Two Holy Mosques, King Salman bin Abdulaziz Al Saud, for his patronage of the Annual Meetings. He also extended profound gratitude to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia for the generous support and warm hospitality extended by the country’s government to the event and its participants.

H.E. Dr. Al Jasser congratulated H.E. Wadagni on his chairmanship of the Board of Governors of the IsDB and commended his exemplary leadership during the current tenure of the Board.  

Speaking on the Islamic Development Bank’s vision and objectives as a leading AAA-rated multilateral development bank (MDB), H.E. Dr. Al Jasser highlighted the role the Bank plays in improving the lives of people in its member countries and Muslim communities worldwide, by promoting social and economic development and delivering impact at scale. Established in 1975, the Bank currently serves its 57 member countries from four continents, in addition to Muslim communities from non-member countries – through their respective governments – and its operations impact one-fifth of the world’s population.

H.E. Dr. Al Jasser said that IsDB Group’s net financing for various sustainable development programs and initiatives since its establishment until 2022 amounted to a total of US$ 170.5 billion. Its annual net approvals increased by 18.5% to reach US$ 10.5 billion in 2022, up from US$ 8.9 billion in 2021. Various economic sectors received IsDB Group’s financing support during the past year, including energy (40.8%), industry and mining (14.4%), agriculture (12.6%), finance (8.6%), transportation (8.5%), water and sanitation (4.8%), health (3.6%), education (3.2%) and others (3.5%).

Shedding light on the Bank’s achievements, H.E. Dr. Al Jasser explained that IsDB maintained its ‘AAA’ credit rating with a stable outlook in 2022. He asserted that it was the 26^th time that the Bank has achieved this outstanding rating from S&P Global Ratings, the 16th time from Moody’s, and the 15th time from Fitch Ratings.

For his part, H.E. Wadagni commented: “On behalf of the Board of Governors of the IsDB, I commend the Management and Board of Executive Directors for their deep commitment to supporting member countries to achieve sustainable development. Their visionary thinking and thorough understanding of the pertinent and emerging development challenges facing member countries prompted the realignment of the strategic vision of the IsDB Group to focus on promoting comprehensive human development and sustainable infrastructure toward boosting economic recovery, tackling poverty, building resilience, and driving green economic growth.”

The Board of Governors of IsDB is the highest authority of the Bank. Each member country of the Bank is represented on the Board with a Governor and an Alternate Governor. The Board meets once a year to consider and approve the financial statements for the previous fiscal year, appoint external auditors, and lay down the future policies of the Bank

Held under the theme of “Partnerships to Fend off Crises,” the four-day 2023 IsDB Group Annual Meetings have brought together policymakers, business leaders, senior executives and attendees representing more than 100 countries at the King Abdullah Congress Center – The Ritz-Carlton Jeddah. The 2023 edition of IsDB Group annual meetings seeks to provide an engaging, solution-oriented platform for participants to discuss current financial, economic and development issues faced by IsDB Group member countries and its partners.

The agreement aims to raise awareness and increase investment in Saudi Arabia’s halal industry.

JEDDAH, Kingdom of Saudi Arabia, 11 May 2022 – Halal Products Development Company (HPDC) has signed a Memorandum of Understanding with the Islamic Development Bank (IsDB).

Under the terms of the agreement, the two organizations will collaborate to promote and amplify opportunities within the Kingdom of Saudi Arabia’s halal sector and the halal industries of IsDB Group’s 57 member countries.

The agreement between the two parties was signed by IsDB Vice President Operations, Dr. Mansur Muhtar, and Mr. Fahad Al-Nuhait, Chief Executive Officer of HPDC.

 According to the MoU, IsDB and HPDC will explore investment opportunities in key halal subsectors together such as food, pharmaceuticals, and cosmetics, as well as jointly helping to ensure that an ecosystem for high-quality halal products is being developed within the Kingdom of Saudi Arabia. In addition, the MoU establishes means for the two parties to jointly analyze data regarding successful halal ecosystem models, halal markets, and the valuable solutions available within the industry.

IsDB President and Group Chairman, His Excellency Dr. Muhammad Al Jasser, affirmed: “Our MoU with HPDC is a supportive measure which will allow us to create meaningful, lucrative connections within the rapidly evolving halal industry. By supporting established organizations, as well as newer ones, through initiatives such as incubation programs and halal parks, we are confident in our ability to greatly benefit the Kingdom of Saudi Arabia’s halal ecosystem.”

“We look forward to exchanging leading industry practices and methodologies in order to contribute to the Islamic financial sector and support innovation within the halal industry.”

A subsidiary of the Public Investment Fund, HPDC aims to localize the halal production industry in the Kingdom of Saudi Arabia, strengthen the sector’s capabilities regionally, and open opportunities for exporting halal products worldwide. Through capital investment and services aimed at empowering investors and SMEs, HPDC seeks to create an attractive commercial environment to capitalize on the potential within the Kingdom’s halal industry.

Mr. Fawaz Al-Harbi, Chairman of the Board of Directors for HPDC, applauded the MoU’s signing, stating: “We are proud to sign this MoU with IsDB which has enabled us to make a tremendous contribution to the halal ecosystem on a domestic scale as well as a global one. Driven by a mission to promote the Kingdom of Saudi Arabia as a world-renowned hub for halal products, our partnership with IsDB is an embodiment of our commitment to investing in halal industry players and supporting innovation, growth, and consistent development.”

Commenting further on the MoU, Mr. Fahad Al-Nuhait said: “By leveraging IsDB’s expertise regarding Islamic finance and commerce, we are in an advantageous position to create value for our partners, businesses, and investors. In addition, this agreement will significantly increase both the development and diversification of the Kingdom of Saudi Arabia’s base economy in line with the aims and objectives of Vision 2030.” The signing of the MoU coincides with the 2023 IsDB Group Private Sector Forum taking place in Jeddah from May 11th to May 13th of which HPDC is a main sponsor.

التقرير يستعرض أحدث الأرقام والرؤى المتعلقة بحالة التكامل الاقتصادي بين دول العالم العربي

جدة، المملكة العربية السعودية – 10 مايو 2023م: أطلقت مجموعة البنك الإسلامي للتنمية رسمياً تقرير المجموعة حول التكامل العربي الاقتصادي خلال الاجتماعات السنوية لعام 2023م التي تستمر حتى 13 مايو الجاري تحت رعاية خادم الحرمين الشريفين، الملك سلمان بن عبد العزيز آل سعود – حفظه الله -.

التقرير الجديد يقيس بشكل شمولي التقدم المحرز فيما يتعلق بتعزيز التكامل الاقتصادي بين دول العالم العربي، ويوفر آلية عملٍ تمكن المجموعة من تحقيق أهدافها الأساسية، بما في ذلك تعزيز التجارة بين البلدان الأعضاء، ودعم معدلات النمو، روفع مستوى الاستثمار الثنائي، وتحسين معيشة الناس على أساس مبادئ التضامن والمصالح المشتركة.

وجاء إطلاق التقرير بعد كلمةٍ ألقاها معالي الدكتور محمد بن سليمان الجاسر، رئيس مجلس إدارة مجموعة البنك الإسلامي للتنمية، قال فيها “لقد بذلت مجموعة البنك على مدى نصف قرن تقريباً جهوداً كبيرة لدعم التجارة البينية والاستثمار في البلدان الأعضاء”.

وأضاف الدكتور الجاسر “العديد من الدراسات أشارت إلى أن تكاليف التجارة الثنائية بين بلدان الشرق الأوسط وشمال إفريقيا أعلى بمرتين من تكاليفها في الاتحاد الأوروبي، ما يؤكد الحاجة لتعزيز التكامل الاقتصادي ومعايير القياس بين الدول العربية. ولذلك، تسعى مجموعة البنك الإسلامي للتنمية باستمرار إلى تعزيز التعاون والتنسيق بين المؤسسات الاقليمية، وتسهيل تفعيل الاتفاقات متعددة الأطراف، وإتاحة تسهيلات تمويلية لدعم مشروعات الربط بين البلدان ودعم القدرات الإنتاجية”.

وشاهد الحضور مقطعاً مرئياً يتضمن النتائج التي توصل إليها التقرير، وتفاصيل إضافية عنه، أعقبت ذلك جلسة حوارية تناولت حالة التكامل الاقتصادي بين البلدان في المنطقة العربية، تحت شعار “حالة وآفاق التكامل الاقتصادي العربي” أدارتها الأستاذة مها عقيل، المحاضرة في الدبلوماسية والعلاقات الدولية، وشارك فيها كلٌ من: الدكتور عبدالكريم العوير، مساعد مدير عام منظمة الأغذية والزراعة، والأستاذة ليليا هاشم ناس، رئيس مكتب منطقة الشرق الأوسط وشمال أفريقيا، مركز التجارة العالمي، والدكتور سامي السويلم، المدير العام المكلف وكبير الاقتصاديين بمعهد البنك الإسلامي للتنمية، والدكتور بهجت أبو النصر، مدير قسم التكامل الاقتصادي العربي، جامعة الدول العربية.

وتناولت الجلسة استعراض الآليات الممكنة لتفعيل التوصيات التي جاء بها التقرير من قبل المنظمات متعددة الجنسيات في كلا القطاعين العام والخاص، مع إبراز جهود مجموعة البنك الإسلامي للتنمية في تعزيز التعاون الإقليمي، ودورها الحيوي في تخفيف حدة التحديات العالمية. ويأتي إعداد نتائج التقرير لتواكب “مؤشر تكامل البنك الإسلامي للتنمية”، وهو مؤشر إحصائي شامل تم تطويره عام 2022 مقسم إلى خمسة قطاعات رئيسة؛ وهي: تكامل التجارة والاستثمار، وتكامل الأسواق المالية، وشبكات الإنتاج، والاتصال، والخدمات اللوجستية، وتنقل الناس، فضلاً عن التكامل المؤسسي. وكانت المجموعة قد أطلقت النسخة الأولى من “تقرير تكامل مجموعة البنك الإسلامي للتنمية” في نوفمبر 2022، استنادًا إلى المؤشرات الـ 22 المتضمنة في المؤشر.

جدة، المملكة العربية السعودية – 10 مايو 2023م: عقد مجلس المديرين التنفيذيين لمجموعة البنك الإسلامي للتنمية اجتماعهم الـ351 بمدينة جدة، وذلك ضمن الاجتماعات السنوية للمجموعة التي تم تدشينها اليوم بفندق ريتز كارلتون بجدة.

وخلال الاجتماع الذي رأسه معالي الدكتور محمد بن سليمان الجاسر، رئيس مجلس إدارة مجموعة البنك الإسلامي للتنمية، صادق المجتمعون على تمويلٍات جديدة بقيمةٍ تزيد على 558 مليون دولار لصالح ستة مشاريع تركز على الاستدامة، والنمو الشمولي، وتطوير البنى التحتية في الدول الأعضاء بالبنك.

ووفقاً لقرار أعضاء المجلس، سيقدم البنك الإسلامي للتنمية مساهمة قدرها 270.57 مليون يورو (296.37 مليون دولار أمريكي) لصالح المرحلة الثانية من مشروع تمويل الإسكان في المناطق الريفية وشبه الحضرية في جمهورية بنغلاديش الشعبية.

 يهدف المشروع إلى تشييد 1989 مسكناً مستداماً متعدد الطوابق بجودة محسنة، مدعومة بمرافق أساسية ضرورية، وسيستفيد منه 70,632 نسمة من ذوى الدخل المنخفض والمتوسط الذين يعيشون في المناطق الريفية وشبه الحضرية في البلاد. وتقوم على تنفيذ المشروع مؤسسة تمويل بناء المنازل في بنغلاديش، وسيضمن المشروع الاستخدام الأمثل للأراضي، والحفاظ على الأراضي الصالحة للزراعة، مع معالجة قضية تغير المناخ من خلال تقديم 55 مسكناً مقاوماً للمناخ للقطاعات المعرضة للتأثر مناخياً، و39 مسكناً صديقاً للبيئة للحد من الاحتباس الحراري، ومكافحة الانبعاثات السامة.

وقد شملت الاعتمادات الرئيسية لمجلس المديرين التنفيذيين للبنك مساهمة تمويلية بقيمة 100 مليون دولار أمريكي تغطي منحة بقيمة 35 مليون دولار أمريكي من مؤسسة بيل وميليندا جيتس، لصالح المرحلة الرابعة من مشروع مكافحة شلل الأطفال في جمهورية باكستان الإسلامية، والذي تنفذه وزارة الخدمات الصحية الوطنية اللوائح والتنسيق. وفي إطار هذا المشروع، سيمول البنك الإسلامي للتنمية شراء معظم لقاحات شلل الأطفال عبر توفير حوالي 930,006,578 جرعة من لقاحات منظمة الصحة العالمية المعتمدة مسبقاً، والتي ستعطى لـ 231.4 مليون شخص في باكستان من قبل اليونيسف. ويهدف المشروع إلى احتواء انتشار كافة فئات فيروسات شلل الأطفال بشكل مستدام، بما في ذلك فيروس شلل الأطفال البري من النمط 1 (WPV1)، وفيروس شلل الأطفال الدائر المشتق من اللقاح من النمط 2 (cVDPV2)، بحلول نهاية العام 2026، والحفاظ على البلاد خالية من شلل الأطفال على مدى السنوات الثلاث المقبلة.

من جهةٍ أخرى، قام المجلس باعتماد تسهيلات تمويل بقيمة 100 مليون دولار لصالح مشروعPT Sarana Multi Infrastruktur، وهي وسيلة خاصة لشركة PT Sarana Multi Infrastruktur (SMI) تُعنى بتسريع تطوير البنية التحتية في جمهورية إندونيسيا. وسيغطي تسهيل التمويل عدداً من مشاريع البنية التحتية في مناطق مختلفة من الدولة، وهو يهدف إلى تمكين القطاع الخاص من تمويل البنية التحتية، وتحسين الجودة الشاملة، واستدامة تطوير البنية التحتية في إندونيسيا. ونتيجة لذلك، سيساهم التسهيل الجديد في تعزيز الاستثمار في البنية التحتية، ما سيدعم النمو الاقتصادي للبلد، ويحد من الفقر، وييسر للأهالي الحصول على الخدمات الأساسية من الكهرباء، والنقل، والمياه، وتكنولوجيا المعلومات والاتصالات، والوسائل الحضرية، والزراعة، والتعليم، والرعاية الصحية، وإدارة النفايات، والإسكان العام.

علاوة على ذلك ، سيقدم البنك الإسلامي للتنمية مساهمة تمويلية قدرها 40 مليون يورو (43.81 مليون دولار أمريكي) لمشروع توليد الطاقة وتطوير الربط الكهربائي في جمهورية بوركينا فاسو الشعبية. المشروع الذي تنفذه الشركة الوطنية للكهرباء في بوركينا فاسو سيعمل على تحسين الظروف المعيشية للسكان في المناطق المستهدفة من خلال توفير كهرباء موثوقة وبأسعار معقولة عبر توسيع وتعزيز توزيع الكهرباء وشبكات التوصيل. ويشمل إنشاء 113 كم من الخطوط متوسطة الجهد، و 971 كم من الخطوط منخفضة الجهد، وإنشاء محطات فرعية بطاقة 132 MV / LV ، وتوصيل الكهرباء إلى 38240 منزل، وتركيب 590 وحدة إنارة عامة تعمل بالطاقة الشمسية في المناطق المستهدفة. ومن المتوقع أن يؤدي المشروع إلى زيادة انتشار الكهرباء في البلاد بنسبة 25٪.

هذا، وقد اعتمد المجلس تسهيلات تمويلٍ بقيمة 15.31 مليون دولار أمريكي لتوسيع المرحلة الثانية من مشروع الطريق السريع برتيل هاردينغ في جمهورية غامبيا، والذي يهدف للمساعدة في معالجة نمو حركة المرور السنوي المتزايد بأكثر من 3٪ على طريق برتيل-هاردينغ السريع من خلال توسيع الطريق. ومن المتوقع أن تزداد حركة المرور على الطريق السريع إلى 28,000 مركبة يوميًا بحلول العام 2040م، مقارنة بـ 16,000 مركبة يوميًا خلال العام 2021. هذا، وسيعمل المشروع الذي تنفذه الهيئة الوطنية للطرق التابعة لوزارة النقل على تعزيز مرونة البنية التحتية للطرق السريعة من خلال تحسين جودة الأسفلت، وتحسين الربط وانسيابية المرور وتعزيز سلامة المستخدمين، وسيدعم مساعي الدولة بشكلٍ مباشرٍ في تحقيق الهدف التاسع من أهداف التنمية المستدامة؛ والمتمثل في الصناعة والابتكار والهياكل الأساسية، والهدف 11؛ والمتمثل في مدن ومجتمعات محلية مستدامة وشاملة وآمنة ومرنة، مع تعزيز جهود تحقيق الهدف 7 بشكل غير مباشر؛ والمتمثل في طاقة نظيفة وبأسعار معقولة، وذلك عبر خفض استهلاك المركبات للوقود نتيجة لتدفق وانسيابية حركة المرور.

وأخيراً، وافق المجلس على تمويل إضافي بقيمة 2,32 مليون يورو (2,54 مليون دولار أمريكي) لتشييد طريق غويبا-غارانغو في بوركينا فاسو الذي تنفذه المديرية العامة للطرق في البلاد. وكان البنك قد اعتمد سابقاً مبلغ 45,03 مليون يورو) لهذا المشروع الذي يهدف إلى تحسين الربط بين ممرات النقل الرئيسية، وتسهيل ممارسة الأنشطة التجارية المحلية في نطاق المشروع سعياً للحفاظ على النمو الاقتصادي. وتشمل أهداف المشروع في اختصار زمن التنقل وتكاليف تشغيل المركبات. ويعد الطريق البالغ طوله 72 كم جزءً من الطريق الوطني رقم 17 على حدود جويبا – قرنقو – تينكودوغو – أورغاي سانغا – توغو، ويتوقع أن يؤثر المشروع إيجاباً في حياة 700,000 نسمة.

Jeddah, Kingdom of Saudi Arabia, 10 May  2023 – The city of Jeddah in the Kingdom of Saudi Arabia, has played host to the launching of the Islamic Development Bank (IsDB) Group Member Country Partnership Strategy (MCPS) for the Republic of Uzbekistan.

The launching ceremony took place, on 10 May 2023, on the sidelines of the 2023 IsDB Group Annual Meetings which are taking place under the patronage of The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.

IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, and Uzbekistan’s Minister of Investment, Industry, and Trade, H.E. Mr. Laziz Kudratov who is also IsDB Governor for the country put their signatures to the strategic document.

In his address, H.E. Dr. Al Jasser voiced satisfaction over the level of cooperation between Uzbekistan and the IsDB Group expressing appreciation to the country’s government for the ongoing thriving partnership.

The IsDB Group MCPS for Uzbekistan is a five-year strategy document (2022-2026) that focuses on two main pillars with three cross-cutting areas:

Pillar 1. Supporting Economic Transformation: The objective of MCPS Pillar 1 is to help Uzbekistan build a green, resilient, and sustainable infrastructure that enables enhancing competitiveness, industrial and agricultural diversification of productive capabilities, supporting higher productivity, promoting exports, expanding formal-sector employment and strengthening the role of priority sectors that can generate high value-added for the economy. In the implementation of this pillar, priority shall be given to the support of the private sector and promoting the business environment.

Pillar 2. Enhancing Human Capital & Enabling Environment: The objective of MCPS Pillar 2 is to improve is to support the economic transformation of the country by investing in human capital and improving welfare. The focus areas of Pillar 2 include improving access to healthcare and health outcomes, improving access to quality education in line with the industry requirements, and mainstreaming the applications and use of ICT and digitalization across the board.

The cross-cutting areas include i) integrating perspectives of women and youth, ii) supporting climate change mitigation and adaptation, and iii)  focusing on long-term holistic engagements for capacity development.

Since 2003 when Uzbekistan joined IsDB, the Bank Group has approved a total of US$ 3.464billion of development financing for Uzbekistan in different sectors including Transport, Energy, Water & Sanitation, Agriculture, Education, Finance, and Health. As of 12 May 2023, the IsDB active portfolio comprises 70 active operations for a total amount of US$ 1.931 billion.

Jeddah, Kingdom of Saudi Arabia, 10 May 2023 – The Islamic Development Bank (IsDB) Independent Evaluation Department (IEvD) organized a technical session with the Heads of Operations and representatives from the Arab Coordination Group (ACG) member institutions on the sidelines of the 2023 IsDB Group Annual Meetings.

During this event, the speakers stressed the need for the institutionalization of Monitoring, Evaluation, and Learning (MEL) systems in their development interventions. Having strong MEL functions in place would provide the evidence needed to support decision-making during the implementation of projects, they argued.

Welcoming the participants, IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, stated: “Development organizations need to account for the use of resources and demonstrate both results and the added value of their work as they are operating in an environment that calls for impartial, valid and credible evidence on the relevance, effectiveness, efficiency, impact and sustainability of their policies, programs, and activities”.

H.E. Dr. Al Jasser then assured that IsDB Group is committed to securing greater cooperation and synergy with its development partners and pooling more resources and smarter solutions to edge closer to achieving the Sustainable Development Goals (SDGs).

The opening remarks of this technical meeting were delivered by Dr. Abdulhamid Alkhalifa, Director General & CEO of the OPEC Fund for International Development, who said: “Monitoring, Evaluation, and Learning (MEL) are vital for effective development project implementation and resource utilization. Institutionalizing MEL functions into development financiers’ DNA is essential for accountability, transparency, and achieving positive impacts. At the OPEC Fund, we’re committed to implementing effective MEL practices, as demonstrated by our forthcoming Development Effectiveness Report.”

A keynote presentation was later delivered by Mr. Dugan Fraser, Head of the Global Evaluation Initiative (GEI) of the World Bank Independent Evaluation Group, focusing on how to build M&E systems, the benefits of strong M&E systems at country level, and how the GEI can contribute to bridging the knowledge gaps and building capacity in the MENA region and beyond.

The panel members also included Honorable Abdoul Salam Bello, Executive Director of the Africa Group II at the World Bank Group Board, who shed light on balancing global and regional perspectives on evidence building, and Eng. Mohammad Jamal Alsaati, Special Advisor to the IsDB President, discussing IsDB’s perspective on utilization of evidence as a powerful compass to shape well-targeted public policies, correct course and ultimately deliver better outcomes and development results. Other key discussants included the Heads of Operations and prominent executive level representatives from the Saudi Fund for Development (SFD), the Arab Bank for Economic Development in Africa (BADEA), the International Center for Biosaline Agriculture (ICBA), the OPEC Fund for International Development, the Abu Dhabi Fund for Development (ADFD), the Arab Gulf Program for Development (AGPD), and the Kuwait Fund for Arab Economic Development (KFAED).

The report shares recent figures and insights regarding the status of economic integration among countries within the Arab world

JEDDAH, Kingdom of Saudi Arabia, 10 May 2023 – The Islamic Development Bank (IsDB) Group has launched the “IsDB Group Integration Report for Arab Region” during the 2023 Annual Meetings taking place from 10- 13 May in Jeddah, Kingdom of Saudi Arabia, under the patronage of The Custodian of The Two Holy Mosques, King Salman bin Abdulaziz Al Saud.  

The IsDB Group Integration Report for Arab Region comprehensively tracks the progress of enhancing economic integration within the Arab world.

The report has been developed to provide a framework for IsDB Group to achieve its core objectives which include boosting trade among Member Countries, promoting growth, increasing bilateral investment and improving the livelihoods of the people based on the principles of solidarity and common interest.

The report’s launch was preceded by a keynote speech from His Excellency Dr. Muhammad Al-Jasser, Chairman of the Islamic Development Bank Group.

“For almost half a century, IsDB Group has made great efforts to support intra-regional trade and investment in member countries,” stated Al-Jasser.
“Studies have indicated that the cost of conducting trade between the Middle East and North African countries is twice as high as those in the European Union which indicates the necessity of measuring and improving economic integration within the Arab Region. IsDB continues to work to strengthen cooperation among regional institutions, facilitate the activation of multilateral agreements, and provide financing facilities to support projects which connect countries,” the IsDB president added.

Following the screening of a video detailing the report and its findings, IsDB hosted a panel discussion sharing the status of economic integration amongst countries in the Arab region. Moderated by Ms. Maha Akeel, the panel discussion on “The Status and Prospects of Arab Economic Integration” saw participation from Dr. AbdulHakim Elwaer, Assistant Director General at the Food and Agriculture Organization of the United Nations (FAO); Dr. Bahgat Abu El Nasr, Director of the Arab Economic Integration Department at the League of Arab States; Ms. Lilia Hachem Naas, Chief Office for Middle East and North Africa at the International, and Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute & IsDB Group Chief Economist.

The high-level session detailed how multinational organizations in both the public and private sectors can activate the report’s recommendations, highlighting the position of IsDB Group as an advocate for regional cooperation and its role in helping mitigate global challenges.

The report’s findings have been prepared in line with the “IsDB Integration Index”, an extensive statistical index developed in 2022 sectioned into five distinct segments, namely, trade and investment integration, financial markets integration, production networks, connectivity and logistics and human mobility and institutional integration. Based on the 22 indicators outlined in the index, the first “IsDB Group Integration Report” was finalized and launched in November 2022.

Jeddah, Kingdom of Saudi Arabia, 10 May 2023 –  The Islamic Development Bank (IsDB) Board of Executive Directors, on Wednesday, 10 May 2023, held its 351^st meeting, in Jeddah, Kingdom of Saudi Arabia. The meeting came as part of the 2023 Annual Meetings of IsDB Group which opened today at The Ritz-Carlton Jeddah.

Chaired by IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, the meeting approved new financing valued at more than US$ 558 million for six projects that focus on sustainable and inclusive growth and infrastructure development in the Bank’s member countries.

As per the decision of the Board Members, IsDB will extend a contribution of EUR 270.57 million (US$ 296.37 million) to Phase 2 of the Rural and Peri-Urban Housing Finance Project in the People’s Republic of Bangladesh.

The project aims to construct 1,989 sustainable multi-storied housings with improved quality and necessary basic facilities. It will benefit a total of 70,632 lower and middle-income people dwelling in rural and peri-urban areas in the country. Being implemented by the Bangladesh House Building Finance Corporation, the project will ensure the optimum use of land and save cultivable land, while addressing the climate change issue by introducing 55 climate-resilient housing for climatically vulnerable segments and 39 eco-friendly housing for reducing greenhouse gas emissions.

The key approvals of the IsDB Board of Executive Directors also include a financing contribution of US$ 100 million inclusive of a US$ 35 million grant from the Bill and Melinda Gates Foundation, to the Polio Eradication Phase IV Project in the Islamic Republic of Pakistan. The project is being implemented by the Ministry of National Health Services Regulations and Coordination. Under the Project, IsDB will finance the acquisition of most of the required oral polio vaccines through the provision of a total of 930,006,578 doses of WHO pre-qualified vaccines, which will be deployed for the 231.4 million people in Pakistan by UNICEF. The project’s objective is to permanently contain the spread of all polioviruses, including wild poliovirus type 1 (WPV1) and circulating vaccine-derived poliovirus type 2 (cVDPV2), by the end of 2026, and maintain the country’s ‘polio-free’ status for the subsequent three years.

The Board also approved a US$ 100 million facility  for PT Sarana Multi Infrastruktur, a special mission vehicle for PT Sarana Multi Infrastruktur (SMI) to accelerate infrastructure development in the Republic of Indonesia. The facility will cover the financing of several infrastructure projects located across various regions in the country. It is aimed at mobilizing private sector financing for infrastructure and improving the overall quality and sustainability of infrastructure development in Indonesia. As a result, the facility will contribute to boosting investment in infrastructure, which will support the country’s economic growth, reduce poverty and provide better access to basic services for its people by facilitating better access to energy, transportation, water, information and communication technology, urban, agriculture, education, healthcare, waste management, and public housing.

Furthermore, IsDB will provide a financing contribution of EUR 40 million (US$ 43.81 million) to the Electrification and Development of Electrical Connection Project in the People’s Republic of Burkina Faso. Once operational, the project, being implemented by Société Nationale d’Electricité du Burkina Faso, will improve the living conditions of the populations in the targeted areas by providing reliable and affordable electricity through the extension and reinforcement of the electricity distribution and connection networks. It entails the construction of 113 km of MV lines, 971 km of LV lines, setting up 132 MV/LV substations, the provision of a connection to 38,240 households, and installing 590 solar public lightings in the targeted areas. The project is projected to increase national access to electricity by 25%.

The Board also approved a financing facility of US$ 15.31 million toward the Widening of the Bertil – Harding Highway Phase II Project in the Republic of The Gambia. The project aims to help address the increasing annual traffic growth of more than 3% on the Bertil – Harding highway by widening the road. It is expected that the traffic on the highway will increase to 28,000 vehicles a day by 2040, as compared to 16,000 vehicles per day in 2021. Under implementation by the National Roads Authority/Ministry of Transport, the project will also enhance the resilience of the highway infrastructure by improving the quality of the asphalt, maximizing connectivity and traffic fluidity, and reinforcing user safety. It will support the country in directly achieving SDG 9: resilient infrastructure, SDG 11: making cities and human settlements inclusive, safe, resilient, and sustainable, while indirectly promoting SDG 7: energy efficiency by reducing fuel consumption for cars as a result of more fluid traffic flows.

In addition, the Board approved an additional financing of EUR 2.32 million (US$ 2.54 million) for the Construction of the Guiba-Garango Road Project being implemented in Burkina Faso by the country’s Directorate General of Roads. The Bank had originally approved EUR 45.03 million (US$ 49.30 million) of financing for this project, which aims to improve connectivity between the major transport corridors, while also facilitating local commercial activities within the project area to sustain economic growth. The objectives of the project include reducing journey time and vehicle operating costs. The 72 km long road is a section of the national road No. 17 from the Guiba – Garango – Tenkodogo – Ouargaye Sangha – Togo Border. The project is estimated to impact a population of 700,000 people.