Islamic Development Bank Group expands strategic partnerships

The Islamic Development Bank (IsDB) Group has entered into new strategic agreements to bolster economic development and financial stability. During the World Bank and IMF annual meetings in Bangkok, IsDB President Mohammed Al Jasser met with Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, to strengthen bilateral cooperation.

The partnership with Nigeria focuses on the 2026-2028 Country Engagement Framework (CEF), targeting infrastructure, private sector development, Islamic finance, and economic diversification. Six projects have been approved covering agriculture, renewable energy, health, and climate resilience to support sustainable growth and economic resilience in Nigeria.

Separately, the IsDB Group signed a strategic cooperation framework with the Islamic Financial Services Board (IFSB). This agreement aims to enhance global stability, financial inclusion, and sustainable growth within the Islamic financial services sector. The collaboration will involve institutional coordination, technical assistance, capacity building, and the development of regulatory frameworks to strengthen the resilience of Islamic finance in member countries.