BAKU, Azerbaijan, January 12. “The celebration of IsDB’s 50th anniversary this year was a milestone in celebrating the group’s significant achievements and planning its future. “It reaffirmed its commitment to promoting sustainable development in line with the national development priorities of member countries and the Sustainable Development Goals,” Chairman of the Islamic said Dr. Muhammad Sulaiman Al Jasser from Development Bank (IsDB) Group in an exclusive interview with Trend.
“Since its inception in 1975, the IsDB has approved over $193.6 billion for 12,078 operations. This remarkable contribution is about improving lives, having a broad impact across our member countries and creating lasting and positive change for communities. Our vision focuses on resilience, innovation and inclusivity We are intensifying our efforts to strengthen food security, advance green growth and promote socio-economic development.
For example, our Food Security Response Program, with a total allocation of $10.54 billion, continues to address urgent challenges while building long-term resilience. We are also committed to advancing human capital development. Last year alone, we approved $420.59 million for education and $1.4 billion for health initiatives, including transformation programs in countries such as Indonesia and Tajikistan. An additional $213.6 million for poverty reduction and regional integration projects. In addition, we achieved a climate finance share of 37% of total commitments, exceeding the 35% target for 2025. Technology and innovation are also at the heart of our strategy,” said the IsDB Group Chairman.
He noted that IsDB bridges digital divides and promotes inclusion through initiatives such as the Technology Deployment Cooperation Program and partnerships with global technology leaders.
“In May 2024, the IsDB Board of Governors celebrated this year’s 50th anniversary of the Islamic Development Bank by adopting the Riyadh Declaration. This historic statement celebrates IsDB's legacy, reaffirms its ethos and clarifies its vision for the future. It sets out the IsDB's vision to promote economic cooperation, investment and industry exchanges, as well as to mobilize and channel funds and other resources flowing within and outside member countries in order to bring about economic and social development to advance, build capacity and respond to challenges and emergency crises at local and global levels, using innovative tools, approaches and technologies.
The aim is to strategically position the IsDB Group in the field of South-South cooperation by consolidating its role in promoting regional integration, intra-regional investments, trade and the exchange of expertise and experience in the development sector. development of regulatory and institutional environments; capacity building; and mobilizing the necessary partnerships.
We remain true to our mission to serve our member countries and humanity. “By prioritizing sustainable infrastructure, inclusive human development and climate action, we aim to continue making a meaningful difference in the lives of communities around the world and maximizing impact,” Al Jasser concluded.
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