The Islamic Development Bank (IsDB) is hosting its 2024 annual meetings under the patronage of King Salman bin Abdulaziz in Riyadh from April 27 to 30, 2024, coinciding with the bank’s golden jubilee. The event marks 50 years of IsDB’s dedication to promoting economic and social development across its 57 member countries. Themed “Taking pride in our past, shaping our future: authenticity, solidarity, and prosperity,” the meetings reflect both the institution’s legacy and its forward-looking goals.
Finance ministers, representatives of financial institutions, experts in Islamic finance, the private sector, and NGOs are participating in the meetings, which are receiving coverage from major media outlets. Key events include knowledge-sharing sessions, seminars, and press conferences focused on development, regional cooperation, and Islamic finance.
In a significant development, IsDB announced the approval of $418 million in financing for new projects during the 355th meeting of the Board of Executive Directors, chaired by IsDB President Mohammed Sulaiman Al-Jasser. The approved projects target economic and social development, with a focus on sustainability.
One of the largest allocations is $150 million for Tajikistan’s Rogun hydroelectric power station, a project aimed at providing clean and affordable electricity from renewable sources. Additionally, Ivory Coast will receive €70.46 million to fund a value chain development project for roots and tubers, particularly cassava.
The annual meetings will feature high-profile events such as the Governors’ Roundtable, the 18th IsDB Global Forum on Islamic Finance, the IsDB Group Private Sector Forum 2024, the Philanthropy Forum, and the Future Vision Symposium. These discussions will tackle critical issues like multidimensional poverty, South-South cooperation, and financing the Sustainable Development Goals.
In a strategic session titled “Unlocking Economic Potential,” the CEOs of IsDB entities will meet to explore ways to promote economic growth, reflecting the institution’s commitment to fostering long-term prosperity in its member countries.
