JEDDAH, August 12, 2023 - On the occasion of International Youth Day 2023, H.E Dr. Muhammad Al Jasser, President of the Islamic Development Bank (IsDB), reiterates the bank's dedication to empowering the youth who play pivotal role in shaping the future of our societies.

In a statement marking the International Youth Day, Dr. Al Jasser expressed profound pride and renewed hope in the fact that the youth in IsDB member countries make up 20% of the population. He acknowledged that their energy, passion, and vision for progress inspire confidence that the best days lie ahead for our communities.

The IsDB recognizes the significance of the International Youth Day as an opportunity to celebrate the achievements and acknowledge the challenges faced by the youth. It is also a reminder of the collective responsibility of multinational institutions to strengthen efforts in empowering the backbone of society. An empowered youth represents a beacon of hope for the future.

The youth "bulge" in IsDB member countries is a valuable asset for socio-economic development if provided with the right support and direction. Through their vitality, energy, and innovative ideas, the youth represent the best investment towards a brighter future. They play an essential role in the bank's strategy to achieve its goals and objectives, especially in the face of regional and global challenges, stated the IsDB President.

Dr. Al Jasser emphasized the importance of leaving no youth behind, particularly amid the ongoing global economic crisis. To achieve this, he said,  “the IsDB aims to foster partnerships among development actors, businesses, and young people themselves. These collaborations will harness resources, expertise, and knowledge to effectively utilize over USD 185.9 billion in Official Development Assistance (ODA).”

“The challenges faced by the 21st-century youth are unprecedented, including forced displacement, unemployment, limited access to education and health facilities, and climate change. Youth unemployment, exacerbated by the COVID-19 pandemic, has detrimental effects on economies and young people's well-being, potentially leading to a cycle of poverty and social unrest”

The IsDB is committed to addressing youth unemployment through a multi-dimensional approach, focusing on quality education and training reforms, promoting entrepreneurship and self-employment, creating supportive business environments, and implementing policies to generate future-proof jobs.

The bank has a strong track record of supporting youth aspirations through various programs and initiatives. This includes the long-standing "Scholarship Program," which has assisted over 18,000 students in pursuing higher education and contributing to community development.

Incorporating youth empowerment into its regular operations and initiatives, such as the Food Security Response Program (FSRP), is a priority for the IsDB according to Dr. Al Jasser.  “The bank is excited to launch its 2nd challenge Call on Green Skilling in post-crisis situations in collaboration with the International Labour Organization (ILO). Additionally, the IsDB works closely with partners like the UNDP to strengthen entrepreneurial ecosystems for youth and women.”

Dr. Al Jasser concluded by affirming the IsDB's steadfast commitment to standing with the youth and partners in their mission to empower them. By working together, they can build a brighter future where the younger generation leads, innovates, and contributes to society's improvement.