The President of the Islamic Development Bank Group, Dr. Bandar Hajjar, has hosted a virtual meeting with the heads of Multilateral Development Banks (MDBs) and the International Monetary Fund (IMF) for their first regular meeting in 2020. 

As the incumbent Chair of the Heads of MDBs for 2020, Dr. Bandar Hajjar expressed his gratitude to all MDB heads for having responded favourably to his invitation and for the “very insightful reflections that took place in a brotherly atmosphere.”

Dr. Bandar Hajjar also emphasised the importance of having open dialogue and a result-oriented shared vision, particularly at times when Member Countries expect leaders to provide the most impactful response to health, economic and financial challenges caused by COVID-19.

The leaders on the call commended the momentum of solidarity created by the international community towards elimination of COVID-19 and stressed that in spite of the challenges posed by the pandemic, the focus should not shift away from realising the 2030 Agenda. 

The IsDB President Dr. Bandar Hajjar said, “as we enter the decade of action towards the 2030 agenda, MDBs need to showcase their collective crucial role in supporting Member Countries to achieve the SDGs.“ 

Dr. Bandar Hajjar joined the other leaders in reiterating commitment to step up their efforts to explore new avenues, that preserves the MDB model, in order to provide low-cost financing for their members and thus scale up their collective response to the crisis.

Recognising their unique role in supporting the sustainable socio-economic development of Member Countries, Dr. Bandar Hajjar  added that “MDBs need to grasp the full extent of the situation and its effects. ”To this end, the Heads of MDBs agreed to continue exchanging views on post-COVID19 anticipated paradigm shifts and future direction. Dr. Bandar further outlined the role of MDBs in supporting the beneficiary countries to build a Climate Resilient and Green low Carbon future, even during their recovery from the pandemic.

IsDB Group remains committed to support its Member Countries and people in need worldwide. IsDB is determined to keep providing sustainable and inclusive solutions, to leave no one behind.