Labuan Bajo, Indonesia, 10-12 July 2022 - The Islamic Development Bank (IsDB) has attended the G20 Second Sherpa Meeting held in Labuan Bajo. The IsDB was represented by the IsDB Sherpa, Dr. Rami Mahmoud Ahmad, and Dr. Houssem Eddine Bedoui, IsDB Group Sous-Sherpa.
The second Sherpa meeting was an opportunity to follow up on the progress of the different Sherpa Working Groups (WGs). Dr. Rami highlighted the IsDBG active engagement in the G20 empower WG, by supporting the WG’s five KPIs Implementation Accountability towards advancing women leadership in the private sector and SMEs, where IsDB has extensive technical expertise gained through implementing a number of Women in SMEs Support Programs across our 57 member countries. He illustrated the various involvement of the IsDB Group within the different Working Groups. For instance, the IsDB is supporting the agenda “Improving the Employment Condition to Recover Together” of the Employment WG by streamlining its four main focus areas in the IsDB’s operations, with particular attention to Enhancing Human capacity development through Community-Based Vocational Training and Promoting Sustainable Job Creation through entrepreneurship development and MSMEs support.
Moreover, he stressed the active engagement of the IsDBG in the Development Working Group's first two meetings, contributing to the drafting process of the WG’s main deliverables such as the G20 Roadmap to Stronger Recovery and Resilience, the G20 Principles on Scaling-up Private and Blended Finance; and the G20 Ministerial vision statement. In the process, IsDB has expressed support and commitment to the 18 suggested actions in the G20 Roadmap and the 4 groups of principles, and 9 actions proposed in the G20 principles document.
He mentioned that the IsDB has recently realigned its strategy focusing on boosting recovery, achieving green growth, building resilience, and tackling poverty. Under the new strategy, IsDB interventions over the next three years will be driven by supporting Green, Resilient and Sustainable infrastructure and promoting inclusive human capital development. Those interventions will have a special focus on areas of: Clean and Renewable Energy; ICT & Digitization; Social Infrastructure; Resilient and Quality Education; MSMEs, and Job Creation. It is worth noting that the new strategy is in total harmony with the “Recover Together, Recover Stronger” agenda and its three major priority areas of achieving global recovery, digital transformation, and energy transition.
The IsDBG Sherpa emphasized that the IsDBG is keen to share its technical expertise with the different WGs. In this context, IsDB has cooperated with Bappenas on organizing two seminars on the sidelines of the DWG 2nd meeting last May in Yogyakarta to explore the topic of “Strengthening MSMEs Productivity, Competitiveness, and Resilience in Facing Future Shocks Post COVID-19 Pandemic in Developing Countries” and to discuss the challenges facing “Scaling-up Blended Finance and Private Finance to Reach the Last Mile of Sustainable Development.” In both events, IsDB technical experts shared their expertise on the topics showcasing IsDB’s efforts to support MSMEs and SDG financing through areas of Halal industry and innovative Islamic finance.
The Sherpa meeting was an opportunity to demonstrate the IsDB Group’s commitment and support to our Member Country presidency. Moreover, the IsDB Group’s delegation seized the opportunity to network with the peer sherpas and sous-sherpas from the G20 counties and the participating MDBs and international organizations.