IsDB Group's 2025 Annual Meeting KICKS Off in Algeria

by Marian Tina Conteh

IsDB Annual Meeting

The 2025 Annual Meetings of the Islamic Development Bank (IsDB) Group commenced on May 19th -22nd in the Algerian capital city of Algiers. This year's theme is "Diversifying Economies, Enriching Lives." It reflects the IsDB Group's commitment to promoting sustainable economic growth and improving the quality of life in the member countries.

Economic diversification is crucial for sustainable development, especially for countries that rely heavily on a single sector or resource. By diversifying their economies, member countries can reduce vulnerability to external shocks, create more job opportunities, and achieve more inclusive growth. The theme also emphasises the goal of economic development: enriching people's lives. This includes not only material well-being but also access to quality education, healthcare, and other essential services that contribute to human development.

This year's dignitaries include ministers of finance, economy, international development, and planning from the 57 member countries of the Bank, along with leaders of global financial institutions and partners. They have convened at the international conference centre of Algiers for strategic discussions.

The event also marks the start of the 50th session of the IsDB Board of Governors' Meeting, which serves as a significant milestone in the institution's efforts to promote Islamic finance, harness innovations, and promote sustainable development.

The first-day sessions witnessed a series of discussions, from closed-door meetings with partners to discussion forums on different issues, like IsDB 13th Youth Development, which was tailored around skills and solutions for youth Employability. The event was a strategic platform, fostering multi-stakeholder partnerships and promoting policy-to-practice alignment. It was a collective effort, amplifying innovative youth-led solutions. Discussions were centred on building productive employment ecosystems, scaling up youth-led enterprises, and driving institutional reforms for inclusive growth.

In his opening address at the IsDB 13th Youth Development forum, Dr. Rami Ahmad, IsDB Vice President (Operations), emphasised the critical importance of preparing young people for a rapidly evolving global economy.

During the panel of discussion on Digital solutions for empowering Micro, Small and Medium Enterprises (MSMEs) and fostering socio-economic Development, Dr. Rami Ahmed also stressed the urgency of digitally empowering MSMEs, calling it "not only timely, but a development prerequisite." He noted MSMEs' central role in job creation, innovation, and inclusive growth, especially in vulnerable communities. "Together, let us transform digital potential into tangible progress and ensure that MSMEs are placed at the heart of our digital development journey," he urged.

One of the key highlights of the day was the signing of a Memorandum of Understanding (MoU) between UN Women West Africa Regional Office and the Islamic Organisation for Food Security (IOFS) on the sidelines of the Islamic Development Bank (IsDB) Annual Group Meeting. This MoU marks a significant step toward strengthening cooperation to promote gender equality and women's empowerment in agrifood systems and food security across OIC Member States in West and Central Africa. This partnership will focus on three key areas: one, Strategic Initiatives for Women's Empowerment, which focuses on the development of strategic joint initiatives to enhance women's participation in food security, climate-smart agriculture, resilience building, and agrifood systems through national and regional programmes.

Secondly, Resource Mobilisation is a Joint effort to develop and implement strategies that mobilise resources to support gender-responsive programmes in food security and agricultural sectors. Finally, Advocacy focuses on implementing joint advocacy campaigns to promote gender equality and women's leadership in agriculture and food systems across the region. This partnership reinforces both organisations' shared commitment to harness women's potential as key drivers of resilient, inclusive, and sustainable food systems in West and Central Africa.

As part of the 2025 work plan, UN Women and IOFS will co-develop and mobilise resources for a multi-country flagship programme focused on women's empowerment, food security, and climate action in the cassava value chain. The initiative will be launched in Sierra Leone and Nigeria, with plans for broader regional expansion. This partnership reinforces the shared commitment of both organisations to harness women's potential as key drivers of resilient, inclusive, and sustainable food systems in West and Central Africa.

The IsDB Group Annual Meetings have served as a cornerstone for global dialogue, policy shaping, and collective action for five decades. From strategic decision-making to knowledge exchange, the Meetings unite Member Countries and partners to pursue one shared goal: "Serving Humanity". This year's general meeting aims to propose sustainable solutions to socio-economic development challenges in IsDB member countries and the broader international community.

Algeria, a founding member of the IsDB Group, is hosting the events for the third time, following the previous sessions in February 1990 and October 2001 and this year annual meeting will end on May 22nd, 2025. About Islamic Development Bank (IsDB) Group Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank (MDB) of the Global South that has been working for over 50 years to improve the lives of the people and communities it serves by delivering impact at scale.

The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 in 4 people worldwide. It is committed to addressing development challenges and promoting collaboration to help achieve the United Nations Sustainable Development Goals (SDGs) by equipping people to drive their own green economic and sustainable social progress, putting planet-friendly infrastructure in place and enabling them to fulfil their potential.

Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has 10 regional hubs and a centre of excellence. Over the years, the Bank has evolved from a single entity into a group comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC), and the Islamic Solidarity Fund for Development (ISFD).