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Add to Preferred SourcesThe 44th Annual Meeting in Morocco marks a release of the 2018 Annual Report of the IsDBG, which presents the summary of development activities of the IsDB Group for the appreciation of stakeholders and the general public.
The IsDB Group comprises the IsDB and its entities: Islamic Corporation for the Development of the Private Sector (ICD); International Islamic Trade Finance Corporation (ITFC); Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Research and Training Institute (IRTI).
In 2018, the three development financing members of the Group (IsDB, ICD and ITFC) all together approved a total of $7 billion on 313 development financing operations. These development financing operations were targeted to provide critical enablers for the economic transformation of 57 member-countries as their road to achieving the Sustainable Development Goals (SDGs).
In fulfillment of its core mandate of supporting social and economic development of member countries, the IsDB has cumulatively financed development projects to the tune of $138.4 billion, from its inception in 1975 to 31 December 2018. As a dynamic international development institution, the IsDB is making efforts to develop new strategies to respond to the fast-changing global development landscape to be able to better support member countries to achieve their development aspirations in tandem with the Sustainable Development Goals (SDGs). It is for this reason that the theme of this year’s Annual Meeting is “Transformation in a Fast-Changing World: A Road to Sustainable Development Goals”.
The IsBB Group has made significant efforts on organizational restructuring to align its new strategic vision with its new business model. In this context, the $7 billion approval for 313 operations in 2018 is remarkable achievements. Across regional classification of member countries, 49 percent were to member countries in MENA and Europe, 30 percent for those in Africa and Latin America, 20 percent to member countries in Asia, the remaining one percent going to non-member countries and regional projects.
Read and download the Bank’s 2018 Annual Report here.
Original source: IsDB
Published on 04 April 2019