Algiers, Algeria – May 21, 2025: The Islamic Development Bank (IsDB) Group successfully hosted a pivotal side event at its 2025 Annual Meetings, focusing on "Avoiding the Middle-Income Trap: Accelerating SDGs Achievement in IsDB Middle-Income Countries." The event gathered global leaders, policymakers, and development partners to discuss critical challenges and opportunities for middle-income countries (MICs).

In his opening remarks, H.E. Dr. Muhammad Al Jasser, President of IsDB, stated, "The theme of this session… aligns closely with our Annual Meetings' vision: 'Diversifying Economies, Enriching Lives.' It reflects the aspirations of millions across our member countries seeking inclusive growth and a better future."

The session underscored the urgent need for strategic actions to help MICs avoid stagnation and promote sustainable development. Participants highlighted the interconnected challenges faced by these nations, including sluggish economic growth, rising debt, and food insecurity.

Key challenges discussed included:

• Stagnating Economic Progress: Many MICs have seen slowed growth due to structural weaknesses and external crises.
• Growing Debt Burdens: Increasing debt levels limit essential investments for sustainable development.
• Food Insecurity: Many countries struggle with agricultural production, affecting vulnerable populations.

Dr. Al Jasser emphasised, "Achieving the SDGs by 2030 requires a new approach; one that prioritises structural transformation, economic diversification, and investment in human capital."

The event aimed to formulate practical policy recommendations tailored to the unique challenges of IsDB MICs. Discussions centred on enhancing access to concessional finance, promoting innovation, and fostering deeper multilateral collaboration.

Participants engaged in meaningful dialogues, reflecting on how the existing global financial architecture often falls short in meeting MIC-specific needs. The event concluded with a call to action for joint efforts among development leaders to tackle the pressing issues faced by MICs.

The IsDB Group remains committed to supporting its member countries through diverse financing solutions and knowledge sharing. "We must work together to ensure that global financing frameworks are better aligned with the needs and realities of MICs," Dr. Al Jasser urged.

This side event positioned the IsDB Group as a thought leader in developing solutions for MICs and advancing the 2030 Development Agenda.

For more details, please visit:  Twitter: @isdb_group, LinkedIn: Islamic Development Bank (IsDB), Facebook: Islamic Development Bank Group - isdb.org @isdbgroup, Instagram: @isdb_stories, YouTube: @IslamicDevelopmentBankGroup, http://am.isdb.org/ , https://www.youtube.com/playlist?list=PLM84pYJkHpQHpSduqSE7iYZj0uvEIvbC2

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