Riyadh, Kingdom of Saudi Arabia, 25 November 2024 - H.E. Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, joined a distinguished panel at the 28th World Investment Conference in Riyadh, themed “Defying Gravity: The Increasing and Changing Role of Emerging Economies in the Global Economy and Investment Ecosystems.”

The session explored the transformative influence of emerging economies on global investment, trade agreements, and sustainable public-private partnerships (PPPs).

Dr. Al Jasser was joined by esteemed panelists, including H.E. Faisal Fadhil Alibrahim, Saudi Arabia's Minister of Economy and Planning; H.E. Eng. Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade; H.E. Samir Abdelhafidh, Tunisia’s Minister of Economy and Planning; and H.E. Kostas Fragkogiannis, Deputy Minister of Foreign Affairs for Economic Diplomacy & Openness of the Hellenic Republic.

In his remarks, Dr. Al Jasser underscored the essential role of basic infrastructure such as roads, schools and hospitals as prerequisites for economic development. He noted that these foundational investments enable nations to attract private investment and build sustainable growth.

He highlighted the IsDB Group's commitment to its 57 member countries, emphasizing that over the past 50 years, the Bank has financed more than US$190 billion in development projects while maintaining its unique AAA credit rating. He pointed to transformative initiatives such as the Rogun Dam in Tajikistan and the Mohmand Dam in Pakistan, which address energy needs while fostering regional cooperation.

Dr. Al Jasser also emphasized the importance of strong governance, policy predictability, and robust regulatory frameworks in creating a conducive environment for investment. He warned that protectionism and trade wars pose risks to global economic stability and called for international collaboration to maintain open markets and facilitate growth.

Addressing agriculture and food security, Dr. Al Jasser highlighted IsDB’s renewed focus on developing agro-processing zones and value chains for crops like cassava and rice, which ensure rural employment. A thriving agricultural sector supports food security, drives rural livelihoods, and contributes to broader economic development.

He further discussed the Bank’s innovative Reverse Linkage Mechanism, which facilitates knowledge-sharing among member countries, enabling them to replicate successful models of economic growth and development.

Through these efforts, the IsDB Group continues to champion sustainable growth and development in emerging economies, driving progress within its member countries and beyond.