President’s Five-Year Program
The President’s Five-Year Program represents the transformative vision of the IsDB’s president, Dr. Bandar Hajjar.
The program’s aim is to make the IsDB more competitive and responsive to the needs of its member countries. Drawn from the Bank’s Ten-Year Strategic Framework, the program aims to make the IsDB the partner of choice in addressing development challenges.
IsDB member countries face numerous challenges across all socio-economic sectors, including education, health, energy, urban development, agriculture, water and infrastructure. The population of each of our member countries is increasing, as are unemployment and poverty.
Other member countries are plagued by political instability, causing refugees to flee into neighboring countries, leading to greater issues. Some member countries rely on a single source of income (for example, oil) to finance their development programs. They have been severely affected by declining commodity prices, which has adversely affected their development programs financed from public budgets.
The significant economic progress made by many developing and transition countries in the past 15 years has also altered countries’ needs, making them more polarized. Many countries have moved up the economic development scale, and have more sophisticated needs, while others have slipped into a spiral of fragility and conflict while also having basic needs to satisfy.
For instance, many countries in Africa and Asia are prone to fragility and need to satisfy basic population needs, such as health, education and food. These are in addition to the need to subsidize basic economic development incentives such as transport infrastructure, energy and financial systems.
The IsDB’s unique role
We are unique among multilateral development banks as we are the only major MDB to solely have developing countries as our membership and shareholder base. We are essentially a ‘south-south’ bank, united by the desire to work together to address the challenges faced by humanity.
It is these challenges that the President’s Five-Year Program aims to tackle by achieving the following six key pillars.
The IsDB needs to increase its visibility. This was a clear message from our 40-Year Retrospective Assessment that we did as part of the groundwork for our Ten-Year Strategy. We can enhance our visibility by creating an integrated strategic communication model. Effective communication with potential donors, for example, will enable us to strengthen our relationships with key stakeholders in critical areas, including resource mobilization. It will also enable us to strengthen partnerships with development institutions at a global – and member country – level.
Partnerships are the best way of enhancing the IsDB’s competitive edge. They will transform today’s competing bilateral institutions, donors and knowledge service providers into partners who will help strengthen the Bank’s leading role within a joint development framework. We aim to establish real and virtual platforms to forge partnerships in member countries and across the world. Such a framework will also give member countries access to the latest scientific, technological and innovative products – enabling them to compete globally in fields where they have a competitive edge.
The IsDB should build capacities by accessing the knowledge of member country populations. Working alongside the public, we will be better placed to ‘read reality’ at all times, producing development solutions that are based on the genuine root causes of problems.
The IsDB must build a sustainable financial model based on self-financing. This can be done by mobilizing crowdfunded resources and will give the Bank greater flexibility to expand financing to member countries.
IsDB projects should be implemented via crowdsourcing platforms by assessing project quality and by evaluating impact. This participatory model will ensure speedy project implementation through real and virtual field presence at a very low cost.
IsDB should adopt sustainable policies and supervisory mechanisms that protect and preserve the environment and ensure a sustainable development impact in the localities where our projects are implemented.
The success of all these measures depends on the IsDB’s compliance with the relevant policies and the model that it disseminates among stakeholders participating in the development process.