Jeddah, 17 April 2025 – The Islamic Development Bank (IsDB) and the Organization for Economic Cooperation and Development (OECD) concluded the 12th Roundtable on Financing Water at IsDB headquarters in Jeddah. The event, held from 16–17 April, attracted over 400 global participants from governments, multilateral development banks (MDBs), commercial banks, academia, philanthropies, and the private sector, to discuss innovative strategies for sustainable and climate-resilient water investments.

Under the theme "Strengthening the Sustainability of Water Investments: Alternative Financing Approaches and Models," the Roundtable addressed the urgent global need to bridge an estimated USD 500 billion annual financing gap for water and sanitation. Discussions emphasized leveraging Islamic finance solutions to address this critical shortfall.

High-level participants included H.E. Abdulaziz Alshaibani, Deputy Minister for Water, MEWA, Saudi Arabia; H.E. Cheikh Tidiane Dieye, Minister of Water and Sanitation, Senegal; and H.E. Abdulla Balalaa, Assistant Minister for Energy and Sustainability, MOFA, UAE. Senior representatives from MDBs such as ADB, AfDB, AFESD, CAF, NDB, and the World Bank, along with GCF, ESCWA, INCEIF, FAO and institutions including the London Stock Exchange, Terra - Expo city Dubai, ACWA Power, and Suez, etc. also took part in the discussions.

Dr. Sami Al Suwailem, Acting Director General of the IsDB Institute, stated, “Islamic finance is instrumental in promoting sustainable water-related investments globally, directly aligning with IsDB’s strategic priorities around food, water, and energy security.”

Dr. Issa Faye, Director General Global Practice and Partnerships, representing Dr. Rami Ahmad, Vice President (Operations) of IsDB, underscored the need for new financing models: “Water is not just a development sector; it is fundamental for human dignity, food security, health, and climate resilience. Islamic finance offers a powerful approach aligning water investments with long-term sustainability and social impact.”

During the Roundtable, IsDB showcased its commitment to water sustainability, highlighting a USD 5.5 billion pledge announced at COP29 for climate adaptation projects. This included the largest Islamic-financed water efficiency initiative valued at USD 1.15 billion in Kazakhstan.

OECD’s Dr. Walid Oueslati, Head of Climate, Biodiversity, and Water Division, reaffirmed the partnership with IsDB, noting: "We aim to unlock the potential of Islamic finance, capital markets, and blended finance tools to drive resilient water investments."

Key recommendations from the Roundtable included transitioning from conventional finance models to innovative Islamic financial instruments, such as sukuk, zakat, waqf, and qard hasan. Participants also emphasized the importance of shifting focus from sustainability alone to resilience in order to address growing climate-related challenges. Another core recommendation was to ensure equitable water access, especially for vulnerable and low-income communities who are often most affected by water insecurity.

The Roundtable also served as a strategic platform ahead of major upcoming global events, including the UN 2026 Water Conference co-hosted by UAE and Senegal, and the 11th World Water Forum to be co-organized by KSA and the World Water Council in Riyadh in 2027.

Participants expressed strong interest in continuing dialogues and partnerships to accelerate global progress on water security and financing. The IsDB and OECD reiterated their joint commitment to collaborating on innovative water finance solutions to meet global sustainability targets.