Islamic Development Bank has humanitarian mission: Chairman

By Gokhan Ergocun

JEDDAH, Saudi Arabia (AA) - The Islamic Development Bank (IsDB) is not only a bank, it has a humanitarian mission, its chairman said on Thursday.

Muhammad Al-Jasser said during a press conference at the bank's annual meeting that the IsDB is looking forward to continuing collaboration with all partners to ensure a strengthened response to the people of member countries and Muslim communities.

The annual meeting, which opened on Tuesday in the Saudi port city of Jeddah, will host experts, officials, and institutions to discuss various topics, including Islamic finance and sustainable development, over the course of four days.

He also stressed that the bank updated its strategies to adapt and adjust its activities in priorities for assisting its member countries and backing their economies better.

The IsDB's board of executives has approved financing for sustainable development and infrastructure projects worth over $558 million late Wednesday at the meeting.

The six projects included rural and peri-urban housing in Bangladesh, polio eradication phase IV project in Pakistan, infrastructure development in Indonesia, electrification and development of electrical connection in Burkina Faso, and road projects in Gambia and Burkina Faso.

In 2022, the bank has supported many projects from food insecurity to poverty and building resilience in member countries.