Washington D.C., United States, 24 April 2025 – A statement delivered on behalf of the Islamic Development Bank (IsDB) Group Chairman, H.E. Dr. Muhammad Al Jasser, during the V20 Ministerial Dialogue XIV emphasized the Bank’s commitment to advancing a global framework where climate prosperity is not a distant ambition, but a practical roadmap centered on jobs, security, and resilience. The theme of the dialogue was “Enabling Climate Prosperity: A Global Agenda for Jobs, Security, Resilience”.

The V20 Ministerial Dialogue is a primary forum for the Finance Ministers of the Climate Vulnerable Forum (V20), co-hosted by the World Bank during the 2025 Spring Meetings of the World Bank and International Monetary Fund (IMF) in Washington.

Chaired by the Prime Minister of Barbados, the event brought together V20 members and key international partners, including G7, G20, and G24, to discuss the climate crisis. Discussions addressed challenges like fiscal space limits, high debt, and unprepared health systems, as well as opportunities like green growth and job creation. The dialogue concluded with a communiqué outlining key issues and a vision for climate prosperity through cooperation.

The CVF-V20 is an intergovernmental group headquartered in Accra, Ghana, representing 70 members from small island developing states (SIDS), least developed countries (LDCs), low and middle income countries (LMICs), landlocked developing countries (LLDCs) and fragile and conflict-affected states (FCS).

H.E. Dr. Al Jasser’s statement was delivered by Dr. Issa Faye, Director General of Global Practice and Partnership at IsDB, at the high-level gathering held on the sidelines of the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington.

In his statement, H.E. Dr. Al Jasser stressed the need for a transformation in how climate finance is structured, accessed, and deployed. He underscored that the green transition presents an opportunity to unlock a new era of inclusive growth.

The statement called for climate finance that is affordable, timely, and scalable. In 2024 alone, IsDB climate financing reached US$2 billion, comprising nearly 50% of the Bank’s total approvals, with a strong focus on adaptation.

Additionally, IsDB pledged US$1 billion at COP28 in support of fragile states, bringing its total cumulative climate finance since COP27 to over US$5.5 billion, of which 47% has been allocated to adaptation.

To further scale its impact, IsDB is expanding the use of innovative financing instruments, including a dedicated concessional window, and is deepening its partnerships with thematic funds such as the Green Climate Fund and the Lives and Livelihoods Fund.

The statement also previewed the launch of a new Response and Resilience Facility expected to benefit over 10 million people affected by disaster, fragility, and conflict.

Elsewhere, the IsDB Group Chairman's statement cited the Bank’s Food Security Response Program that - with US$6 billion in approvals - is helping address hunger and rural poverty.

In their communique the participants underlined the need to move beyond crisis management toward bold opportunity creation—embedding climate resilience, adaptation, and growth-guided investments at the core of our macroeconomic frameworks, budgets, policies, infrastructure, financing, and peace-building efforts.

Further, they concluded  that  it is important to re-energize leadership around the World Bank and IMF where regaining momentum and recovering opportunities to support climate-vulnerable countries will require revisiting size and lending capacity and administrative efficiency, improving fairness (especially at the IMF), more inclusive discussions at the Board levels, and more organized (and explicit instruments) for tackling debt, climate-fueled disasters, and global public goods.