Multilateral Cooperation Center for Development Finance (MCDF) CEO Zhongjing Wang joined the Islamic Development Bank (IsDB) Group Annual Meetings in Algiers, Algeria on 19-23 May. He met IsDB management, participated in an IsDB high-level panel on regional integration, and held bilateral meetings with senior IsDB member country officials. The exchanges laid the groundwork for MCDF’s stronger collaboration with IsDB and its members to promote high-quality connectivity infrastructure investment.
CEO Wang, along with MCDF’s Program Team Head, Mr. Frederic Wiltmann, and Ms. Monde Nyambe, congratulated IsDB Vice President Dr. Rami M.S. Ahmad on the occasion of the annual meetings. They discussed IsDB and MCDF’s deepening partnership after IsDB became an MCDF Implementing Partner in December 2024 and IsDB’s first project with MCDF grant support, to develop the financial management capacity of its member countries, was approved in March 2025. Both sides expressed a strong desire to continue to work closely toward the submission of an IsDB project preparation proposal for consideration by the MCDF Governing Committee.
On 21 May, CEO Wang joined the high-level IsDB panel entitled, Unlocking Regional Complementarities: A Pathway to Economic Diversification and Sustainability. The panel also included Guinea Minister of Planning and International Cooperation, Mr. Ismael Nabe, and Mr. Adeeb Y. Al Aama, CEO of the International Islamic Trade Finance Corporation, and was moderated by IsDB Group Chief Economist, Dr. Areef Suleman.
During the panel, CEO Wang described how MCDF promotes high-quality connectivity infrastructure investments in developing countries through partnerships and the importance of this work for realizing competitive regional value chains and inclusive and sustainable development.
“Infrastructure — both physical and digital — is a cornerstone of successful regional integration,” said CEO Wang. “South-South collaboration on infrastructure investment that meets International Financial Institution standards is core to MCDF’s mandate. We aim to help Islamic Development Bank member countries participate in regional integration efforts that are unlocking cross-border opportunities and support economic diversification while ensuring a more sustainable future for all,” he added.
In a bilateral meeting, Algeria’s Minister of Finance, Mr. Abdelkrim Bouzred, emphasized his country’s role as an integrator of North Africa and Sub-Saharan Africa and desire to collaborate with MCDF on cross-border connectivity projects, which he said are key to optimizing regional supply chains and trade growth. CEO Wang offered warm congratulations to Algeria for successfully hosting the IsDB Group annual meetings and said he looks forward to partnering with the country to sustainably address regional connectivity investment priorities based on International Financial Institution standards and best practices.
Minister Nabe of Guinea described his country’s strong need for grant support to undertake feasibility studies for sustainable infrastructure investment, particularly in road, rail, and air projects. CEO Wang highlighted MCDF’s robust grant support for connectivity projects in Africa, which account for 34% of its portfolio overall and include an increasing number project preparation grants within the continent’s transport sector.
Senegal’s Minister of Economy, Planning, and Cooperation, Dr. Abdourahmane Sarr, explained how urbanization in the country’s coastal cities is increasing demand for improved ports, railways, and broader connectivity and expressed interest in partnering with MCDF to help address these needs. CEO Wang was highly receptive and pointed to MCDF’s capacity building project support for African port portals connectivity as an example of MCDF and Senegal’s alignment of connectivity priorities.
Mr. Yusuf Abdulla Alhumood, Undersecretary for Financial Affairs at Bahrain’s Ministry of Finance and National Economy, praised MCDF’s grant funding for climate and environmental and social safeguard studies to support the preparation of a SKBS port road interchange project that would enhance road connectivity between Bahrain and Saudi Arabia and regional trade. He said Bahrain is actively looking into public-private partnerships (PPP) as a project finance modality and that greater cooperation with MCDF in areas such as this would be highly useful. CEO Wang welcomed Bahrain’s request and noted MCDF’s recent PPP hot topics workshop series.
The MCDF delegation also met with Mr. Ramathan Ggoobi, Permanent Secretary and Secretary to the Treasury at Uganda’s Ministry of Finance, Planning, and Economic Development, and Mr. Simon Mibrathu, Secretary General of Djibouti’s Budget Ministry, respectively. They discussed the countries’ transport and digital infrastructure development and corresponding need for project preparation and capacity building support. CEO Wang encouraged Uganda and Djibouti to engage further with MCDF in these regards.
Contact
David Hendrickson
Senior Communications Officer
Mobile: +86 185 0114 6758
david.hendrickson@themcdf.org
