Multilateral Cooperation Center for Development Finance (MCDF) CEO Zhongjing Wang and Islamic Development Bank (IsDB) President H.E. Dr. Muhammad Al Jasser discussed next steps for MCDF-IsDB partnership during a bilateral meeting at the MCDF Secretariat in Beijing on 22 January.

CEO Wang congratulated President Al Jasser and his accompanying senior staff on IsDB’s 50th anniversary and offered thanks for the bank’s great support for MCDF. This includes IsDB’s MCDF Coordination Committee membership, cohosting investment facilitation workshops in Central and West Asia and Indonesia, and active participation in MCDF information-sharing activities.

President Al Jasser highlighted IsDB's plans for new regional integration programs like the Central Asian Connectivity initiative. IsDB is exploring a regional project pipeline in Central Asia for 2024, prioritizing the transport, energy, and information and communications technology sectors, he noted.

"The countries in this region require well-designed cross-border connectivity projects in these specific areas," President Al Jasser emphasized.

President Al Jasser further underscored the value of IsDB-MCDF cooperation for advancing global connectivity and sustainable development. He also expressed his strong desire for IsDB to further operationalize its relationship with MCDF by becoming an accredited Implementing Partner of the MCDF Finance Facility.

CEO Wang affirmed MCDF support for IsDB’s pending accreditation, which will allow it to request and channel MCDF Finance Facility grants for boosting sustainable cross-border connectivity infrastructure based on partnerships and International Finance Institution standards.

CEO Wang welcomed IsDB to meanwhile utilize the MCDF Finance Facility via co-financing with current MCDF Implementing Partners, the Asian Infrastructure Investment Bank (AIIB), African Development Bank, Development Bank of Latin America and the Caribbean, and African Finance Corporation.

He also highlighted areas in which MCDF would like to work more closely with IsDB, such as renewable energy technology, the Central Asia connectivity information sharing program now being jointly conducted by MCDF, IsDB, and AIIB, and debt sustainability.

“With the help of Islamic Development Bank’s strategic vision and 50 years of experience as a global development institution, MCDF can do more,” CEO Wang said.

The IsDB-MCDF partnership paves the way for accelerated infrastructure development in developing countries, with Central Asia poised to be a key beneficiary. Focusing on sustainability and social responsibility, cooperation between the two organizations will play an increasingly important role in promoting inclusive economic growth and prosperity across the region and beyond.

Left to right: H.E. Dr. Muhammad Al Jasser, President, Islamic Development Bank (IsDB) and Zhongjing Wang, CEO, Multilateral Cooperation Center for Development Finance (MCDF)

Left to right: Salah Jelassi, Director of Partnerships, IsDB; Strahan Spencer, Head of Platform Team, MCDF; H.E. Dr. Muhammad Al Jasser, President, IsDB; Zhongjing Wang, CEO, MCDF; Dr. Zamir Iqbal, Vice President and Chief Financial Officer, IsDB; Ayumi Konishi, Senior Advisor to the CEO, MCDF; Frederic Wiltmann, Head of Program Team, MCDF; Salah Mansour, Principal Executive to the President, IsDB; Omar Ezzat, Senior Program Officer, MCDF; Linghui Cai, Senior Program Officer, MCDF

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