Jeddah, Saudi Arabia, 29 January 2026 – In a significant milestone for regional environmental efforts, the Islamic Development Bank (IsDB) has been officially appointed as the Trustee and Manager of the Middle East Green Initiative (MGI) Fund. The announcement was made today following the signing of the Fund Management Agreement during the MGI Ministerial Council Meeting in Jeddah. 

As the full Trustee, the IsDB will manage this multi-donor trust fund dedicated to financing critical operations in comprehensive climate adaptation and mitigation across MGI member countries. 

Speaking on behalf of the IsDB Group Chairman, Dr. Rami Ahmad, the IsDB Vice President for Operations (VPO), expressed gratitude to the MGI Ministerial Council for entrusting the Bank with this pivotal role. 

 “We view this assignment as an honored mandate, and a trust that requires harnessing all our institutional capabilities, financing tools, and accumulated experience,” said Dr. Ahmad. “We are committed to managing this fund in accordance with the highest standards of governance and transparency to achieve its strategic goals.” 

Highlighting the Bank’s 20 years of experience managing special trust funds, Dr. Ahmad noted that the IsDB’s established approach ensures strong governance and integrity through rigorous control policies, whether projects are implemented directly by the Bank or in collaboration with partners. 

The MGI is envisioned as a transformative platform for climate finance, designed to mobilize resources for projects that mitigate climate change and drive green growth across the region. 

“The Fund is fully aligned with the Bank’s vision and sustainable development priorities,” the VPO added, reaffirming the IsDB’s commitment to working closely with the MGI Ministerial Council and General Secretariat, as well as all stakeholders, to translate the initiative’s aspirations into tangible achievements.