Riyadh, Kingdom of Saudi Arabia, 25 October 2021 - Islamic Development Bank (IsDB) President and Chairman of IsDB Group, H.E. Dr. Muhammad Al Jasser, has reaffirmed the comitment of the IsDB Group to the UN sustainable Development Goals (SDGs) and to continue enhancing collaboration with UN specialized agencies to seve the development priorities in the Bank’s 57 member countries.
Dr. Al Jasser stated this during an in-person meeting with UN Deputy Secretary General, H.E. Amina J. Mohammed, in Riyadh, where he confirmed the intention of the IsDB Group to raise its profile in a more focused and relevant fashion in the global forums, in particular, the UN General Assembly and the High Level Political Forum (HLPF).
“I commend Your Excellency’s leadership throughout the years in spearheading efforts to adopt the 2030 agenda and its SDGs and I look forward to a renewed relationship,” the IsDB Group Chairman told the UN deputy Secretary General.
Elaborating on the IsDB Group’s response towards its 57 member countreis in the face of COVID-19 pandemic as swift and effective, Dr. Al Jasser explained how the Bank has committed over US$ 4.5 billion under its Strategic Preparedness and Response Program (SPRP). That not only supports emergency health response, food security, and economic recovery, but it also comprises an US$ 850 million IsDB COVID-19 Vaccine financing facility (IVAC) that aims to support member countries in vaccine development, manufacturing, procurement, and delivery.
Referring to the ongoing joint efforts with UN agencies on International Dialogue on the Role of Islamic Social Financing in supporting the SDGs, the IsDB Group Chairman advised that he has nominated IsDB Vice President Country Programs, Dr. Mansur Muhtar, and Dr. Sami Al Suwailem, Acting Director General, IsDBI Instiute and IsDB Group Chief Economist, to represent the Bank at the relevant high level committee and contribute to the debates on the topic.
He, furhter, highlighted IsDB’s cooperation with ESCWA, GAVI, and WHO on an innovative initiative to mobilize funds through Sadaqah and Zakat for purchase of COVID-19 vaccines for poorest nations as well as joining hands with UNICEF on the Global Muslim Philanthropy Fund for Children which mobilizes resources towards humanitarian and resilience development programs. Reviewing the cooperation between IsDB and UN Office for South-South Cooperation as well as the Bank’s different resource mobilization schemes including issuance of Green and Sustainability Sukuk also featured in the meeting.
The two entities have long been cooperating with one anothe rsince 1970s and currently IsDB maintians more than 20 MoUs and joint action plans with UN specialized agencies.