Saudi Arabia: The Islamic Development Bank launched the revamped Member Country Partnership Strategy this year at the bank’s annual meeting event. 

The launch focused on four of its member countries — Niger, Pakistan, Guyana and Uzebekistan. 

The event was attended by distinguished governors and delegations from member countries, and the aim was to focus on the strategic development projects and programs in the member countries.

Mohammed Al-Jasser, the chairman of the Islamic Development Bank and the chairman of the IsDB Group said: “The revival of member country partnership strategy is the key instrument for the bank’s strategic programs as part of the IsDB group’s commitment to develop member countries priorities as laid out in their national development plans.”

After the unprecedented disruption caused by the pandemic, the bank witnessed setbacks. However, 2022 marked its revival, and in 2023 the bank has focused on making the MCPS more implementation focused. 

Al-Jasser said that it “effectively addresses the various developmental challenges facing our member countries, while reducing constraints.”

He added: “We have once in a lifetime opportunity to build back better and create a more sustainable and equitable future for all. So let us continue to invest in the future and the well-being of all people and the planet. 

“Let us continue to build partnerships and collaborations across sectors and regions to achieve our common goals. Together, we can achieve impactful partnerships leading to economic diversification and sustainable development. We must prioritize partnerships and work collaboratively to ensure that no one is left behind.”

At the end of the session, Al-Jasser signed four memorandum of understanding with Abdou Rabiou, minister of planning of Niger; Sardar Ayaz Sadiq, minister for economic affairs of Pakistan; Ashni Singh, senior minister, office of the president of the Cooperative Republic of Guyana; and the acting alternative governor of Uzbekistan.