RIYADH: The Islamic Development Bank Group and the UN Development Programme are seeking to strengthen resilience and support recovery in member countries affected by crises, building on their long-standing cooperation.
IsDB Group President Muhammad Al Jasser met with UNDP representatives on the sidelines of the 2026 World Bank Group and International Monetary Fund Annual Meetings in Bangkok to discuss existing cooperation and potential areas for further collaboration.
The talks focused on coordinating development efforts in fragile and crisis-affected countries to address urgent needs and advance sustainable development.
In April, the IsDB approved $75 million for its Response, Recovery and Resilience Facility, which supports 32 fragile and conflict-affected member countries affected by natural disasters. The facility provides emergency financing, supports recovery efforts and strengthens preparedness and early-warning systems.
The need for such financing comes amid pressure on development budgets. UNDP’s 2025 Funding Compendium reported that its core resources fell 24 percent to $442 million in 2025. More than half of its program expenditure — $2.67 billion — was allocated to crisis and fragile settings. Its 2026–2029 Strategic Plan prioritises resilience, crisis prevention and sustainable finance.
IsDB, GIB explore Islamic finance cooperation
Al Jasser also met Abdulla bin Mohammed Al-Zamil, chairman of the boards of Gulf International Bank in the Kingdom and GIB Capital, and Abdulaziz Al-Helaissi, GIB Group CEO, to explore cooperation in sukuk investments, Islamic capital markets, Shariah-compliant liquidity and hedging solutions, as well as co-financing and sustainable finance in IsDB member countries.
The discussions covered ways to diversify the bank’s investor base, improve secondary-market liquidity and expand treasury cooperation. The two sides also considered how GIB’s financial expertise could complement the IsDB Group’s development financing activities.
IsDB, Senegal discuss financing priorities
The IsDB Group and Senegal reaffirmed their commitment to advancing the country’s development priorities through their existing partnership.
Discussions focused on economic recovery, priority investments and financing solutions to support sustainable growth and resilience. Both sides also highlighted the importance of mobilizing development funding and ensuring the effective implementation of ongoing projects.
IsDB, TD Bank Group explore capital markets cooperation
Al Jasser also met with TD Bank Group CEO Bob Dorrance to explore a long-term partnership in capital markets and treasury activities, including potential cooperation on the IsDB’s future sukuk issuances.
The talks focused on diversifying the bank’s investor base and strengthening its access to international capital markets, drawing on TD Bank Group’s capital markets expertise and investor network alongside the IsDB’s AAA credit rating and established sukuk issuance programme.
Both sides also explored ways to support the bank’s future funding activities and develop institutional cooperation in areas of mutual interest.