Tashkent, Uzbekistan, 02 September 2021 - The Islamic Development Bank (IsDB) will work closely with the 57 member countries of the Bank to deal swiftly with the emerging vaccine divide. The President of Islamic Development Bank, H.E. Dr. Muhammad Al Jasser, stated this in a historic speech delivered in Tashkent, the capital of Uzbekistan, during the opening ceremony of the 2021 Annual Meetings of IsDB Group.

Dr. Al Jasser delivered the speech in the presence of H.E. President Shavkat Mirziyoyev of Uzbekistan and the 57 ministers of finance, economy, planning and international development from IsDB member countries who serve in the bank’s Board of Governors. He assured the governors that despite the challenges of COVID-19, the financial position of IsDB remains stable with the Bank maintaining its AAA rating of intact for over a decade.

The IsDB President stated that although IsDB member countries account for around 25% of the world population, only 10% (9.7%) of all 5.2 billion doses administered worldwide were in our member countries. Thus, a 'Vaccine Divide' has emerged.

“Failure to swiftly deal with this emerging phenomenon will impede recovery and slow economic growth, further widening gaps and worsening inequalities,” Dr. Al Jasser elaborated.

In its effort to support the member countries, IsDB has committed US$ 4.5 billion to help member countries contain, mitigate, and recover from the impact of COVID-19 by adopting a 3-R approach (Respond, Restore, Restart).

Dr. Al Jasser further stated that IsDB would pay significant attention to infrastructure, human development, quality education, addressing environmental issues, improving health services and the eradication of extreme poverty for sustainable development.

“I come to you with an open mind and open heart to listen, reflect, and reassess,” stated Dr. Al Jasser, “We will support, advise, finance, and mobilize resources, but our starting point will always be your priorities and national development plans.”

To achieve his priorities as the President of IsDB, Dr. Al Jasser told the IsDB governors that he would harness the human asset of the Islamic Development Bank.