Doha, Qarar, 5-9 March 2023- Addressing Fifth United Nations Conference on the Least Developed Countries (LDC5) held in Doha, Qatar during the period 5-9 March 2023, Eng. Mohammad Alsaati, Special Advisor to the Islamic Development Bank (IsDB) President confirms that The IsDB is firmly committed to serving its 57 member countries, supporting the socio-economic development and improving the quality of life for 1.8 billion people worldwide.

“The IsDB Group continues to provide and mobilize climate finance resources through non-traditional source of financing for climate action such as green sukuk and exploring other labelled sukuk including resilience and transition sukuk for our clients” he hilghted.

Eng. Alsaati also assured that the IsDB will continue to support the Least Developed Member Countries through various infrastructure development programs and projects including energy, agriculture, transport, through grants, concessional and blended financing, noting that South-South and Triangular Cooperation (SSTC) remains the priority of IsDB’s work.

Special Advisor to the IsDB President also addressed the Ministerial Meeting on South-South Cooperation, on the sidelines of the LDC5 and reaffirmed that the IsDB has actively championed South-South and Triangular Cooperation among its membership which is entirely drawn from the Global South.

“Through our home-grown Reverse Linkage, the IsDB is deploying flagship initiatives supporting least developed members, such as renewable energy program for rural electrification which benefitting 27 villages in Niger, using the expertise of Morocco” Eng. Alsaati elaborates.  He also reiterated the commitment of the IsDB to continue working with dev. partners and members from the Global South to enhance the effectiveness of #SSTC interventions and to scale up coop. between dev. countries and beyond in this Decade of Action.

Finlay Eng. Alsaati addressed the side event “Launch of the “Frontier Tech Leaders Programme”.

“Digital transformation, artificial intelligence and smartphones are proving vital support to the development of resilient and inclusive economies”, he says. He went on “The IsDB has been supporting digital transformation efforts for years. Since its inception, the Bank has been supporting the ICT sector through standalone ICT projects and as a complement in other sectors such as education, health, and agriculture for a variety of operations”. Eng. Alsaati explained that “in the context of globalization, digitization of national economy plays a crucial role in integrating the economies of developed countries, while in the new economy, infrastructure of digital networking provides a global platform that enables to develop strategies for organization development”.