Algiers, Algeria—21 May 2025: In a landmark agreement-signing session during the 2025 IsDB Annual Meetings in Algiers, the Islamic Development Bank (IsDB) signed numerous and significant agreements to support Member Countries in a diverse range of key development sectors, ensuring comprehensive support and inclusivity.

These agreements signed or witnessed by H.E. Dr. Muhammad Al Jasser, IsDB President, reflect the Bank’s continued commitment to delivering impactful, demand-driven support aligned with national priorities. With a total value of around USD 1 billion, the signed financing span multiple sectors, ranging from infrastructure and healthcare to youth empowerment and food security, underscoring the Bank’s strategy to deliver sustainable results that serve humanity.

For Mauritania, the Bank signed a financing agreement of EUR 37 million to support vocational training and youth employability. The agreement, signed by H.E. Sid’Ahmed Bouh, Minister of Economy and Finance, and H.E. Dr. Al Jasser, aims to improve the employability of youth and provide them with the required skills of the job market.

Two agreements were signed for the Sultanate of Oman. The first involves a financing commitment of USD 632.16 million for the Climate-Resilient Flood Protection Dams Project, signed by H.E. Sultan Salim Said Al Habsi, Minister of Finance and H.E. Dr. Al Jasser. This initiative will enhance flood protection and climate resilience. A separate Memorandum of Understanding was also concluded between the two parties to deepen strategic cooperation aligned with Oman Vision 2040.

The Bank extended USD 26.62 million in financing for the State of Palestine, including a USD 26.4 million loan and a USD 260,000 grant, to support Phase I of the Khaled Al-Hassan Cancer Hospital. The agreement was signed by H.E. Omar Al-Bitar, Minister of Finance and H.E. Dr. Al Jasser. The project will strengthen specialized health services and oncology care capacity.

For Sierra Leone, an agreement valued at USD 38.19 million was signed to support the Livestock and Livelihoods Development Project. The initiative, which is expected to boost agricultural productivity and food security in rural areas, was signed by H.E. Sheku Ahmed Bangura, Minister of Finance, and H.E. Dr. Al Jasser.

The Bank also concluded two agreements with The Gambia. A USD 3 million loan was signed to supplement its financing to the Phase II of the Groundnut Sector Development Project. At the same time, a USD 150,000 grant was provided under the Project Preparation Facility for road infrastructure planning. Both agreements were signed by H.E. Seedy K.M. Keita, Minister of Finance and Economic Affairs and H.E. Dr. Al Jasser.

The Bank approved a USD 241.3 million agreement for Bangladesh to construct five climate-resilient bridges in the Mymensingh region. Mr. Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division, and IsDB Vice President (Operations) H.E. Dr. Rami Ahmad signed the agreement, which H.E. Dr. Al Jasser witnessed.

New institutional agreements were also signed to reinforce strategic partnerships, underscoring the sense of collaboration and shared responsibility. A USD 10 million grant was formalized with Islamic Relief USA to support the Global Islamic Fund for Refugees. Mr. Adil Al Sharif, Acting Director General, Islamic Solidarity Fund for Development (ISFD), signed the agreement. Additionally, the Bank signed a USD 5 million grant agreement with Josoor for the STEP Program, which is focused on youth employability and skills development.

Further, the Bank signed a Country Engagement Framework with the Republic of Uganda to guide development cooperation for the period 2025–2027. A Memorandum of Understanding was signed with Côte d’Ivoire to deepen collaboration under the Member Country Partnership Strategy framework.

The signings took place in the presence of senior government officials, ministers, international development partners, and global media, further reinforcing the spirit of South-South cooperation and the IsDB’s mission of Serving Humanity.

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