Riyadh, Kingdom of Saudi Arabia, October 29, 2025 - The Islamic Development Bank (IsDB) Group and the Inter-American Development Bank Group (IDBG) have signed a Memorandum of Understanding (MoU), pledging at least US$1 billion over the next five years to support development in Suriname and Guyana.

The renewed collaboration will focus on advancing inclusive and sustainable development in both countries, with investments targeting key sectors such as transport, energy, urban development, education, rural development, health, and resilience.

IsDB Group Chairman H.E. Dr. Muhammad Al Jasser said: “At the Islamic Development Bank Group, we are committed to empowering our member countries and fostering partnerships that advance sustainable development. This renewed engagement with the IDB and IDB Invest enables us to jointly deliver transformative projects that enhance livelihoods, strengthen resilience, and promote shared prosperity in Suriname and Guyana.”

IDB President Ilan Goldfajn said, "We are joining forces with the Islamic Development Bank to unlock new financing opportunities in Guyana and Suriname and also cooperation with other member countries, to build resilience, foster inclusive growth, and improve lives."

Beyond Suriname and Guyana, the partnership supports broader collaboration in common member countries and IDB member countries with significant Muslim populations.

The framework also aims to deepen cooperation between the two institutions in strategic areas, including trade and investment, with a focus on digital trade, tourism, and public-private partnerships to promote inclusive growth, as well as sustainable transport solutions that enhance regional connectivity and climate resilience.

The two institutions reaffirmed their shared commitment to knowledge sharing and delivering impactful development solutions as well as strengthening cooperation among Latin America and the Caribbean, Gulf Countries and other stakeholders.