Dr Muhammad Sulaiman Al Jasser at Paris Peace Forum 2021: “We have allocated US$4.5 billion to support economic recovery in countries affected by the Covid-19 pandemic”

[DIGITAL Business Africa] – On the occasion of the fourth edition of the Paris Peace Forum which opened on November 11, 2021 in Paris, Dr. Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank and Chairman of the Islamic Development Bank Group, called on world leaders to work together as one team with one vision and one goal: to create jobs and lift the poor out of extreme misery in the wake of the Covid-19 pandemic.

In the video in which he launches his appeal, he explains the need to act quickly.

“At this critical juncture of human history, collective action on health and economic recovery is indispensable. We, the members of international community are compelled to act swiftly as a large section of humanity falls into the abyss of poverty and unemployment. The cost of inaction will be too much to bear in the aftermath of the pandemic. We must invest in human well-being, promote a globally coordinated response and build resilience to future shocks“, says Dr Muhammad Sulaiman Al Jasser.

He is convinced of the success of collective action: “We can achieve this goal by working as one team with one vision and one goal, one team that shares knowledge and builds capacity. A vision that ensures support for the poorest and most vulnerable communities; a goal that creates jobs, lifts the poor out of extreme poverty and invests in green recovery.”

As an example, he takes the case of the bank he heads. The ISDB has, according to his explanation, a track record in providing development solutions through Islamic finance, south-south cooperation, and infrastructure development.

“We have allocated US$4.5 billion to support economic recovery in countries affected by the Covid-19 pandemic to help them build back better. As a member of international family, we believe that improving global governance is a collective responsibility. Hence, We extend hour hands to our partners to overcome the menace of poverty and inequality for a sustainable future for all“, he said.

Dr Muhammad Sulaiman Al Jasser Speaks

The Transform Fund

It will be recalled that in 2018, the IsDB also launched the Transform fund. A $ 500 million innovation and technology fund that provides seed money to start-ups and SMEs in Africa and around the world to facilitate economic and social progress in their respective cities and communities.

In this context, the bank organized its “Transformers Summit” in Dakar, Senegal in December 2019. A summit that is part of the Islamic Development Bank’s commitment to Science, Technology and Innovation (STI).

The Islamic Development Bank (IsDB)

The Islamic Development Bank (IsDB) is a multilateral development bank (MDB), working to improve the lives of those we serve by promoting social and economic development in Member countries and Muslim communities worldwide, delivering impact at scale.

It provides the infrastructure to enable people to lead better lives and achieve their full potential. The IsDB claims a presence in 57 member countries across four continents, touching the lives of one in five people around the world.

This is how the bank presents itself: “We are one of the world’s most active multilateral development banks and a global leader in Islamic finance. Our operational assets exceed USD 16 billion, our subscribed capital is USD 70 billion and our credit rating is AAA.”

“We believe all people have the right to live in dignity and prosperity, and that nurturing economic growth is the best route out of poverty; We equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfill their potential; We build collaborative partnerships between communities and nations, across the public and private sectors; We foster innovative and sustainable solutions to the world’s greatest development challenges, as we work towards the UN Sustainable Development Goals.”

We promote innovative and sustainable solutions to the world’s greatest development challenges, while working towards the United Nations Sustainable Development Goals (SDGs). We create collaborative partnerships between communities and nations to work towards the achievement of the SDGs by harnessing the power of science, technology and innovation, and promoting ethical and sustainable solutions to the world’s greatest development challenges.

The Islamic Development Bank Group

The IsDB Group has evolved from a single entity to a group of six entities: the Islamic Development Bank (IsDB), the Islamic Research and Training Institute (IRTI) , the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) , the Islamic Corporation for the Development of the Private Sector (ICD) , the International Islamic Trade Finance Corporation (ITFC) and the World WAQF Foundation (WWF).

By Beaugas Orain DJOYUM