IsDB President Lauds Development Cooperation with Indonesia

Washington, United States, 14 October 2022 - President of the Islamic Development Bank (IsDB) and Group Chairman, H.E. Dr. Muhammad Al Jasser, has met, in Washington, with Minister of Finance and IsDB Governor for Indonesia, H.E. Sri Mulyani Indrawati

At the meeting which took place on the sidelines of the ongoing IMF and World Bank Group Meetings, the IsDB President extended thanks to the Government of Indonesia for confirmation of the country’s subscription to the 6th General Capital Increase of the Bank and described it as great support that allows IsDB to solidify its financial sustainability and development impact in member countries. 

In his remarks, the IsDB president called the Bank’s relationship with Indonesia extremely valuable and cordial evidenced by the fact that Indonesia was the first IsDB member country to initiate engagement on the LIBOR transition project which has advanced far better than expected; not to mention other areas of cooperation in investment equities, Sukuk, Awqaf properties, etc.   

Furthermore, Dr. Al Jasser congratulated Indonesia on the successful organization of the G20 Trade Investment and Industry Ministerial Meeting in Bali in September 2022. “The outcomes of the G20 Indonesia Presidency, which are aimed to create a sustainable global market, perfectly align with IsDB’s strategic objectives to (i) boost recovery in our member countries, (ii) build sustainable, green & resilient infrastructure, and (iii) use digitalization across sectors to empower people, scaling up efforts in education and improving governance, to cite just a few,”, Dr. Al Jasser stated.

The Republic of Indonesia is a founding member of the IsDB since 12 August 1974. To date, the IsDB Group has financed 337 development projects in Indonesia US$7.81 billion.