Addis Ababa, Ethiopia, 17 February 2023 – Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser, and African Union Commission Deputy Chairperson, H.E Dr. Monique Nsanzabaganwa, have signed a Memorandum of Understanding (MoU), on the sidelines of the 36th African Union Assembly, to ensure strategic collaboration and engagement at the highest political level of both institutions to actualise Africa’s development agenda.

The MoU, to be operationalised by the Department of Economic Development, Trade, Industry, and Mining of the AUC and the IsDB’s Global Practice and Partnerships (GPP) Directorate, will carry out activities conducive to promoting and supporting broad-based and sustainable development in Africa, in particular in the areas of policy design and analysis that promote inclusive growth, regional integration, sustainable development and structural transformation; trade; domestic resources mobilisation; fight against illicit financial flows; industrialisation and economic diversification; human development; innovation, MSMEs development and entrepreneurship, women and youth empowerment; natural resources; infrastructure; food security & agriculture value-chains development; private sector development; climate action & green transition; digital transition etc.

Dr. Al Jasser stated that the IsDB is prepared to assist Africa in building its capacity to implement development programs successfully, and such a document would ensure strategic collaboration and engagement between the two sister organisations at the highest political level. ‘’It will enhance the great potential of rapid digitisation and Sustainable ICT Development that can substantially reduce the digital divide and accelerate sustainable development on the continent,’’ Dr. Al Jasser emphasised.

HE Dr. Monique Nsanzabaganwa acclaimed IsDB’s support to member countries in Africa. She said she welcomed the new IsDB’s commitment to supporting the continent’s development agenda and encouraged more economic empowerment projects for women and youths.