Vienna, Austria, 25 June 2024 – On the sidelines of the ongoing Arab Coordination Group Heads of Institutions meetings and the OPEC Development Fund Forum, in Vienna, Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser, has conferred with Ms. Laura Frigenti, CEO of the Global Partnership for Education (GPE).

One of the core areas of IsDB Group’s development operations is promoting human development and education. The meeting mainly focused on reviewing the progress in IsDB-GPE joint projects. It also discussed opportunities for strengthening the ongoing partnership and jointly collaborating to attain more comprehensive and cost-effective results

.During the meeting, the IsDB President,  stated that the Bank looks forward to working more closely with GPE to support the development of the next strategic direction of the ongoing partnership. 

Enhancing implementation capacity as well as more innovative mobilization and allocation of resources were also featured at the discussions.

IsDB and GPE maintain a joint portfolio of six project operations for a total financing of US$ 534.8 million comprising US$125.45 million in grants from GPE blended with IsDB/ISFD loan financing of US$295.5 million and US$113.85 million from partners, including grants from Education Above All (EAA) and Save the Children UK, as well as loans from Kuwait Fund for Development (KFD), OPEC Fund, Saudi Fund for Development (SFD), and the Arab Bank for Economic Development in Africa (BADEA).

The two institutions are also promoting SmartEd (Smart Education) which aims to transform education in several countries including Kyrgyzstan, Uzbekistan, Nigeria, and Cameroon in cooperation with major contributors like the Arab Coordination Group (ACG).

IsDB is the premier AAA-rated multilateral development bank of the Global South that focuses on a wide array of sustainable development sectors including education and human development in its 57 member countries in four continents; while GPE is the largest global fund solely dedicated to transforming education in lower-income countries, and a unique, multi-stakeholder partnership.

About Islamic Development Bank (IsDB) Group

Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank of the Global South that has been working for 50 years to improve the lives of the communities it serves by delivering impact at scale. The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 in 5 of the world population. Its mission is to equip people to drive their own economic and social progress at scale, putting the infrastructure in place enabling them to fulfil their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has regional hubs and centers of excellence in 11 of its Member Countries.  Over the years, the Bank has evolved from a single entity into a group comprising five entities: Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) tasked with research and training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC).

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Ahmad Abu Ghazaleh, Senior PR and External Communications Specialist

AGhazaleh@isdb.org

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