Jeddah, Kingdom of Saudi Arabia, 29 October 2026, H.E. Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, welcomed H.E. Dr. Sidi Ould Tah, President of the African Development Bank (AfDB) Group, and his delegation to IsDB Group Headquarters for an official visit and bilateral talks on joint financing and development delivery across the 27 common member countries in Africa. 

The leaders reviewed progress under the 2024–2029 Cooperation Framework, which provides a combined US$4 billion co-financing envelope for sovereign and non-sovereign operations. Approvals have reached US$2.65 billion, representing 66% of the target.  

“AfDB is a strategic partner of the IsDB Group in advancing Africa’s development priorities. Our focus is to build on this strong partnership to scale up co-financing, strengthen project preparation and delivery, and mobilize greater public and private capital to achieve tangible, lasting development impact across our common member countries,” Dr. Al Jasser said. 

Dr. Ould Tah expressed appreciation for the longstanding partnership between AfDB and the IsDB Group and emphasized the importance of closer coordination to build on its achievements and advance shared priorities in Africa. 

The leaders discussed ways to adopt integrated approaches to project development and delivery for greater impact in energy, transport, water, health, agriculture and food security among other key initiatives. They also touched on Mission 300 and the Special Agro-Industrial Processing Zones. 

Dr. Al Jasser emphasized the importance of deepening cooperation across the IsDB Group, drawing on its entities’ complementary capabilities in trade finance, private sector development, insurance and guarantees. Both sides explored Islamic finance and other capital mobilization opportunities. 

The meeting also addressed closer cooperation between the IsDB Concessional Fund (ICF) and the African Development Fund (ADF), including co-financing eligible operations and exchanging experience in concessional financing. 

The leaders commended the progress achieved under the IsDB–AfDB Memorandum of Understanding and explored broadening its scope and raising its co-financing target. They also considered opportunities for joint operations beyond the current Cooperation Framework, supported by sustained follow-up. 

The visit built on the January 2026 Joint Declaration between the Arab Coordination Group (ACG) and AfDB. As an ACG member, IsDB highlighted the importance of translating this wider Arab–African partnership into practical initiatives in joint financing and resource mobilization.