Minister of Planning, Economic Development and International Cooperation and Governor of Egypt at the Islamic Development Bank Group (IsDB) Participate in the Bank's Governors' Forum in Saudi Arabia

Al-Mashat" calls on the Islamic Development Bank (IsDB) Group to expand financing tools for the private sector as a key driver of economic development

 

 "Al-Mashat": We Look Forward to Greater Bank Participation Through the New Strategic Framework 2026-2035 to Address Development Challenges in Member States in Light of Regional and International Developments

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Governor of Egypt at the Islamic Development Bank (IsDB) Group, participated in the Islamic Development Bank (IsDB) Group Governors Forum held in Medina, Saudi Arabia, in light of the approaching end of the Bank's current strategic cycle in 2025, and the launch of a new cycle for strategic planning for the period 2026-2035. The meeting was chaired by Dr. Muhammad Sulaiman Al Jasser Chairman, Islamic Development Bank (IsDB) Group, in the presence of Mr. Laaziz Fayed, Chairman of the Board of Governors and Minister of Finance of Algeria, Mr. Mohammed Abdullah Al-Jadaan, Minister of Finance of Saudi Arabia, Mr. Ahmed Kouchouk, Minister of Finance and Alternate Governor of Egypt at the Bank, Governors of member countries, and other officials.

 

During her speech, H.E. Dr. Rania A. Al-Mashat affirmed Egypt's belief in the pivotal role played by the Islamic Development Bank IsDB in promoting economic and social development in member countries, highlighting the proposals submitted by Egypt that contribute to strengthening the strategic framework of the Bank Group for the period 2026-2035, based on the significant progress achieved and the comprehensive strategy presented by the Bank.

 

The Minister of Planning, Economic Development and International Cooperation emphasized the importance of enhancing focus on integration between sectors and challenges facing member states, such as poverty, inequality and climate change, which are interconnected and cannot be addressed through isolated interventions, in order to provide comprehensive and effective development solutions, through multi-sector projects such as sustainable housing initiatives that integrate renewable energy, water and educational infrastructure to address multiple development needs simultaneously, as well as innovation labs between sectors, by establishing experimental centers that bring together expertise in the fields of health, education, infrastructure and the environment to develop integrated solutions that suit the unique contexts of member states.

 

Al-Mashat explained that these efforts complement the framework provided by the Bank and ensure more efficient allocation of resources with sustainable results in the long term.

 

H.E. also pointed out the importance of expanding innovative financing mechanisms to meet the growing demand for resources by member states and to be commensurate with the challenges, thus enhancing the bank’s already strong financing strategies, including Islamic social finance for challenges such as poverty alleviation and community development, as well as green sukuk to finance renewable energy projects and climate change-resistant infrastructure, in line with global sustainability priorities, pointing to blended financing models to reduce project risks and encourage private sector participation.

 

It is worth noting that the forum represents an opportunity for the Bank’s Governors to discuss their aspirations for the Bank Group, its role and focus over the next decade, through high-level consultations, discussions and exchange of visions and ideas on the working document that was prepared, which provides an analysis of the internal and external context of the Bank Group and proposes key strategic theses to guide the formulation of the Bank Group’s strategic framework for the period 2026-2035.