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Fostering economic development and social progress in member countries.
The Islamic Development Bank (IsDB) is a multilateral development bank established in 1975 to foster economic development and social progress in its member countries. Headquartered in Jeddah, Saudi Arabia, the IsDB provides financial products and services that comply with Islamic law, focusing on infrastructure, education, health, and agriculture. The bank aims to enhance the welfare of its member countries by supporting projects that promote economic growth and poverty reduction.
With a membership of 57 countries, the IsDB operates in diverse regions, including Africa, Asia, and the Middle East. It plays a crucial role in financing development projects that align with the principles of Islamic finance. The bank also emphasizes capacity building and knowledge sharing among its member countries to ensure sustainable development. Its interventions are guided by the principles of solidarity and partnership, aiming to achieve significant socio-economic impact.
The IsDB is active in numerous African countries, including Nigeria, Egypt, Morocco, and Senegal, among others.
The IsDB offers various programs such as the Islamic Solidarity Fund for Development, which targets poverty alleviation, and the Science, Technology, and Innovation Fund, aimed at fostering innovation in member countries.
The IsDB has significantly contributed to infrastructure development, improved educational facilities, and enhanced healthcare systems in its member countries. Its projects have led to increased access to clean water, electricity, and improved agricultural productivity.
