Islamic Development Bank Strongly Advocates for Enhancing National Ecosystems to Strengthen South-South Cooperation

The Islamic Development Bank (IsDB) has strongly called on developing countries to work together for the development of National Ecosystems for South-South Cooperation (SSC)

The Islamic Development Bank (IsDB) has strongly called on developing countries to work together for the development of National Ecosystems for South-South Cooperation (SSC). Developing National Ecosystems through triangular cooperation will be a major milestone that will strengthen the effort of developing countries to achieve the priorities of the 2030 Agenda according to the Jeddah based multilateral development bank. 

The National Ecosystem for SSC should be based on national conditions, economic and social priorities and national development strategies. IsDB views economic development holistically and sees partnership as outlined in the President’s 5-Year Programme (P5P) as the vehicle for addressing development challenges in the South-South.

Commenting on the Need for National Ecosystems, IsDB President, Dr. Bandar Hajjar stated:

“BAPA+40 is a unique opportunity for IsDB and its partners to work towards developing National Ecosystems that will cement the relationship among developing countries. This is what we have been doing in the last four decades. IsDB will deploy its capacity, utilize the best scientific, technological and innovative strategies to ensure the development of robust National Ecosystems for South-South Cooperation. ”

“By upscaling our partnership with countries of the South, IsDB Group is working to return 28 million children back to school by 2030. Through South-South Cooperation, we have launched the Second Generation of the Alliance to Fight Avoidable Blindness (AFAB). This initiative will spearhead 1.5 million surgical cataract operations in 13 countries in Africa from 2018-2022.”

As championed by IsDB President’s 5-Year Programme, developing South-South Triangular Cooperation for National Ecosystems will contribute in enhancing cross-regional value-chains.

Dr. Bambang Permadi Soemantri Brodjonegoro, Indonesia’s Minister for National Development stated: “We need to strengthen South-South Cooperation to promote people-to-people connection. Areas like youth development, sports and culture should be part of the bigger picture of South-South Cooperation. IsDB is the only major financial institution with membership from the South-South. With these characteristics, IsDB can position itself as the pacesetter in South-South Cooperation.”

In his remarks on the need for National Ecosystems, UN Special Envoy on South-South Cooperation, Jorge Chediek called on member states and development institutions to replicate Islamic Development Bank’s Reverse Linkage Initiative which promotes South-South Cooperation. He emphasized the need for sharing knowledge and establishing institutional follow-ups.

National Ecosystems from IsDB perspective should be built on sound pillars which include: Political Will from the highest governmental levels; Developing a national strategy that could help governments clearly identify their priority areas as well as potential gaps or developmental needs; Establishing National body for South-South Triangular Cooperation (SStrC) that could facilitate increased coordination of national stakeholders and cooperation among developing countries; Building information bases on national SSTrC initiatives and available resources could assist countries in maintaining a comprehensive database for enhancing their SSTrC activities; Connected actors for SSTrC could bring in views and perspectives from various stakeholders, allowing them to coordinate and harmonize their efforts; Establish financing mechanisms at the national level; and build a performance management for these initiatives.