Mohammed Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB) Group
Mohammed Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB) Group, said that the launch of the IsDB Concessional Financing Fund (ICF) comes as part of the bank’s commitment to supporting and accelerating sustainable development efforts in its 27 least developed member countries, amid growing challenges related to rising debt levels, economic fragility, and the impacts of climate change.
In a statement to Argaam, the top official affirmed that the fund aims to expand the scope of the bank’s concessional financing to reach approximately 15% of its annual approvals, by strengthening partnerships and activating co-financing mechanisms, thereby maximizing the developmental impact of available resources.
The fund builds on the bank’s development experience that extends to more than five decades and offers a simplified model of Shariah-compliant concessional financing. This will help ease debt burdens and direct resources toward high-impact development investments, particularly in human capital, food security, essential infrastructure, and strengthening resilience to climate shocks, he added.
Al-Jasser also noted that the fund aligns with the IsDB Group’s ten-year strategic framework for 2026–2035 and adopts an objective allocation methodology that takes into account a set of key indicators, including per capita income, debt sustainability, levels of fragility, and exposure to external shocks.
The fund is based on sustainable financial foundations, topped by the allocation of 20% of IsDB’s annual net income, in addition to voluntary periodic contributions from member countries, ensuring its continuity and long-term effectiveness, according to the top official.
Additionally, Al-Jasser praised the pivotal role of Saudi Arabia as the founding and host country of IsDB Group, noting that the Kingdom’s continued support over more than five decades has been a key pillar in enabling the bank to fulfill its development mission and strengthen its international standing.
He also commended the financial and moral support provided by Saudi Arabia and Kuwait, which had a direct impact on the establishment and launch of the ICF.
The fund reflects IsDB’s commitment to supporting its least developed member countries in addressing development challenges and continuing to invest in their potential, contributing to building a more sustainable and inclusive future, Al-Jasser concluded.
Mohammed Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB) Group
Mohammed Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB) Group, said that the launch of the IsDB Concessional Financing Fund (ICF) comes as part of the bank’s commitment to supporting and accelerating sustainable development efforts in its 27 least developed member countries, amid growing challenges related to rising debt levels, economic fragility, and the impacts of climate change.
In a statement to Argaam, the top official affirmed that the fund aims to expand the scope of the bank’s concessional financing to reach approximately 15% of its annual approvals, by strengthening partnerships and activating co-financing mechanisms, thereby maximizing the developmental impact of available resources.
The fund builds on the bank’s development experience that extends to more than five decades and offers a simplified model of Shariah-compliant concessional financing. This will help ease debt burdens and direct resources toward high-impact development investments, particularly in human capital, food security, essential infrastructure, and strengthening resilience to climate shocks, he added.
Al-Jasser also noted that the fund aligns with the IsDB Group’s ten-year strategic framework for 2026–2035 and adopts an objective allocation methodology that takes into account a set of key indicators, including per capita income, debt sustainability, levels of fragility, and exposure to external shocks.
The fund is based on sustainable financial foundations, topped by the allocation of 20% of IsDB’s annual net income, in addition to voluntary periodic contributions from member countries, ensuring its continuity and long-term effectiveness, according to the top official.
Additionally, Al-Jasser praised the pivotal role of Saudi Arabia as the founding and host country of IsDB Group, noting that the Kingdom’s continued support over more than five decades has been a key pillar in enabling the bank to fulfill its development mission and strengthen its international standing.
He also commended the financial and moral support provided by Saudi Arabia and Kuwait, which had a direct impact on the establishment and launch of the ICF.
The fund reflects IsDB’s commitment to supporting its least developed member countries in addressing development challenges and continuing to invest in their potential, contributing to building a more sustainable and inclusive future, Al-Jasser concluded.
