Beyond Recovery: Resilience And Sustainability

The Islamic Development Bank (IsDB), a multilateral development bank (MDB) works to promote social and economic development in Member countries and Muslim communities worldwide. It supports people to drive their own economic and social progress at scale and provides the infrastructure in place to enable them to fulfil their potential. It also builds collaborative partnerships between communities and nations, across the public and private sectors. It encourages innovative and sustainable solutions to the world’s greatest development challenges, as it works toward the UN Sustainable Development Goals.

In the framework of this mission, IsDB organizes its group meetings yearly basis in different countries. This year, the Islamic Development Bank Group 2022 Annual Meetings has been held in Sharm El-Sheikh, Egypt, from 1-4 June 2022, under the theme “Beyond Recovery: Resilience and Sustainability” after 39 years since it was held in Egypt in 1991.

The meetings were held considering major economic and geopolitical developments determined by the significant decline in the COVID-19 pandemic and under the comprehensive health and safety measurements taken for all attendees.

Ambassadors of international and regional financial institutions, as well as representatives of Islamic banks, national development finance institutions, and unions of contractors and consultants from OIC member countries, participated the 4-day program. Ministers of Economy, Planning, and Finance from 57 member countries of the Bank also show presence at the associated meetings.

Annually organized meetings hold a unique platform for the member countries to have the chance to discuss possible cooperation areas and maximize cooperation with the participating financing institutions as well as renew and strengthen the economic relations among IsDB member countries.

Being simultaneously organized with the Islamic Development Bank Group 2022 Annual Meetings, IsDB Group Private Sector Forum (PSF), in which representatives of major companies and the business community at the local, regional and international levels took part was also held from 2-4 of June 2022.

Private Sector Forum (PSF) aims to provide a platform to network and establish business relations and partnerships with other leading representatives and stakeholders from the business community while jointly exploring investment and trade opportunities offered by member countries. This year, PSF highlighted the IsDB Group activities, services and initiatives in member countries including Egypt (investment, trade, and insurance). Also, It instilled member countries on IsDB Group role in promoting PPP projects and promote IsDB Group’s services to the private sectors interested to invest in Egypt. The Forum also brought business communities in member countries together with parallel B2B and B2G scheduled meetings.

The 2022 Annual Meetings of the IsDB Group featured “the 47th Annual Meeting of the Board of Governors of the Islamic Development Bank”, “the 29th Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)”, and “the 22nd General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD)”. In the same context, “the 17th Meeting of the Board of Governors of the International Islamic Trade Finance Corporation (ITFC)”, and “the 15th Meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISFD)” also was held.

Plenty of other important side events also have been organized during the program including the preparations for the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in November 2022, the green economy, achieving sustainable growth and confronting climate change, and other important international issues.

IsDB Group Annual Meeting attracted over 2,000 visitors by holding 30 Sessions with around 100 Speakers during the 4-Day program.