Islamic Development Bank
Empowering people for a sustainable future
Driving innovation, partnerships, Islamic Finance and value chains
The Board of Executive Directors (BED) of Islamic Development Bank (IsDB) has approved several projects worth US $325 million for Burkina Faso, Kazakhstan, and Mozambique. The approvals also include a Technical Assistance Grant to Suriname and a Waqf (endowment) project through the Islamic Solidarity Fund for Development (ISFD) to Benin Republic.
The President of Islamic Development Bank (IsDB) Dr. Bandar Hajjar has welcomed the strengthening of partnership with the United Nations (UN) towards the implementation of Sustainable Development Goals (SDGs). Dr. Hajjar made the remark when he received the UN Deputy Secretary-General, Ms. Amina Mohammed, at the IsDB Headquarters in Jeddah.
The Islamic Development Bank (IsDB)’s “AAA” credit rating was affirmed with a “Stable Outlook” by Fitch Ratings on May 28, 2019. The trust certificates issued by IsDB Trust Services Ltd. have also been affirmed at ‘AAA’.
The Islamic Summit Conference commended, during its 14th ordinary session in Makkah, the important role of the Islamic Development Bank (IsDB) Group in promoting comprehensive development in OIC Member States, strengthening their cooperation, enhancing Islamic finance, developing infrastructure and promoting the private sector. The Conference called upon Member States to significantly increase the IsDB’s capital to enable it to meet the increasing needs of its Member States.
The Islamic Development Bank (IsDB) has awarded Pakistani innovators, researchers and entrepreneurs seed capital and business skills mentoring as part of its fifth edition of the Transformers Roadshow competition, held in association with COMSTECH. The Roadshow is a global initiative in which applicants are invited to pitch ideas accelerating one or more of the UN Sustainable Development Goals (SDGs).
Today, the President of the Islamic Development Bank (IsDB), H.E. Dr Bandar Hajjar, met with the President of Pakistan, Dr. Arif Alvi, and the Prime Minister of Pakistan, Imran Ahmed Khan Niazi, to discuss ways in which the IsDB can implement its new vision to support the Government’s development agenda for financial inclusion, economic empowerment and future aspirations.
The Islamic Development Bank (IsDB) is renewing financial agreements with the Pakistan Government to progress the country’s development initiatives, financial inclusivity and economic empowerment for Pakistani’s and the wider region. This re-financing of existing, and new projects is in line with the IsDB’s vision to help its Member Countries achieve the UN Sustainable Development Goals (SDGs).
Heads of state, ministers, leaders of multilateral development banks, private sector executives, women entrepreneurs, and contributing governments of the Women Entrepreneurs Finance Initiative (We-Fi) convened today at the first We-Fi Regional Summit to discuss concrete ways to strengthen support for women-led small and medium-sized enterprises (SMEs) in West Africa.