Islamic Development Bank Group Chairman Muhammad Al Jasser called for countries in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) to balance responses to immediate economic pressures with sustained investment in long-term development. Speaking at a regional meeting of finance ministers, central bank governors and financial institution leaders on the sidelines of the World Bank Group–International Monetary Fund Annual Meetings, he emphasized macroeconomic stability, stronger fiscal and external buffers, and greater capacity to withstand future shocks. Al Jasser said governments must also address structural constraints on productivity, diversification and sustainable growth while maintaining investment in infrastructure, human capital and productive capacity. He identified private capital mobilization as essential because public and concessional resources cannot meet the region’s investment needs. The Islamic Development Bank Group has directed nearly USD 100 billion, or 45% of its cumulative approvals, to member countries in the region, including support for energy systems, infrastructure, industry and agriculture.
Islamic Development Bank chairman urges balanced resilience strategy and greater private capital mobilization in MENAP
Islamic Development Bank Group Chairman Muhammad Al Jasser urged MENAP countries to combine near-term stabilization with structural reforms and continued investment in long-term development. He called for stronger fiscal and external buffers and greater private capital mobilization, noting that the group has directed nearly USD 100 billion, or 45% of cumulative approvals, to the region.