The Islamic Development Bank Group approved $13.2 billion for member countries in 2024, marking a 12.3% increase from 2023. The funding addresses global challenges and humanitarian crises across member nations. IsDB’s cumulative net approvals total $194.8 billion since operations began.
The bank continues implementing its $10.54 billion Food Security Response Program, launched in July 2022. By late 2024, IsDB had approved $8.0 billion under this program, achieving over 90% of the planned targets for food system support.
Climate action dominated the funding landscape, capturing $2.4 billion, achieving 46% of the bank’s climate finance targets and surpassing its 2025 goals. Water sector projects secured $2.1 billion, transport infrastructure received $1.5 billion, energy initiatives got $923.9 million, and agriculture claimed $745 million. Several other sectors also received funding, including education at $330.3 million and healthcare at $221.2 million.
“IsDB Group made progress, with cumulative net approvals reaching $194.8 billion,” said Chairman Dr. Muhammad Al Jasser, noting benefits for member countries and Muslim communities globally.
The funding targets resilience building and sustainability while addressing immediate needs. IsDB’s subsidiary corporations contributed additional support, with the International Islamic Trade Finance Corporation providing $7.3 billion in trade financing.
The Islamic Development Bank Group is a multilateral development financing institution based in Jeddah, Saudi Arabia, founded in 1973. It operates as a medium-sized donor with 5-10 new opportunities monthly.
