Islamic Development Bank Group appoints new regional head

By Tuba Ongun

ANKARA (AA) – Islamic Development Bank Group has appointed a new head for its regional hub in Türkiye, according to a statement released on Wednesday.

Walid Abdelwahab, an expert in international development and sustainable finance, was appointed on June 8. Holding a Ph.D. in Civil Engineering from the University of Calgary, Canada, he leads the Islamic Development Bank (IsDB) Group operations in Afghanistan, Albania, Azerbaijan, Iran, Pakistan, and Türkiye.

"I am very excited to lead IsDB Group's efforts in this region and work towards spearheading the achievement of sustainable development and resilience," said Abdelwahab.

The new regional director brings extensive experience in development finance, public-private partnerships (PPP), Islamic and blended finance, South-South Cooperation, and bilateral and multilateral aid delivery, read the statement.

He has worked over two decades in delivering development programs and projects that have improved the livelihoods of millions worldwide in areas such as health, food security, education, and infrastructure.

The Islamic Development Bank Group, headquartered in Jeddah, Saudi Arabia, brings together 57 member countries across four continents. The regional hub for the group manages the development operations of over $35 billion in Türkiye and five other member countries.

In Türkiye alone, the group manages a substantial development portfolio of over $12 billion, covering renewable energy and energy efficiency, green and high-speed rail transport, education, health, industry, road transport, international trade, private sector development, business and credit insurance, as well as SMEs and banking and Islamic finance.