The Islamic Development Bank and other members of the Heads of Multilateral Development Banks Group reaffirmed their readiness to provide timely financing and analytical support to developing members facing conflict, economic uncertainty, high debt, inflation, disasters and constrained fiscal space. The institutions said their support would focus on protecting vulnerable populations and sustaining investment in jobs and resilient long-term growth. In a joint statement following their meeting in Manila, the MDB heads reported progress in mobilizing private capital and coordinating work on shared priorities, including climate, nature, water, critical minerals and artificial intelligence. They also highlighted efforts to improve systemwide efficiency and increase development impact within each institution’s mandate and operating model. The European Investment Bank Group will take over the group’s chair from the Asian Development Bank in December.
Islamic Development Bank and fellow MDBs reaffirm timely support for developing members
The Islamic Development Bank and fellow multilateral development banks reaffirmed their readiness to provide timely financing and analytical support to developing members under growing fiscal and economic pressure. The group also reported progress in mobilizing private capital, coordinating work on common development priorities and improving systemwide efficiency.