Riyadh: Chairman of Islamic Development Bank (IsDB) Group Dr. Mohammed bin Sulaiman Al-Jasser expressed his appreciation and gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud for his generous patronage of the 2024 IsDB Group Annual Meetings and the celebrations of the 50th anniversary of the IsDB establishment.

Al-Jasser also expressed sincere appreciation and gratitude to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia.

“Their constant support for the IsDB Group is a source of great inspiration and a testimony to the leadership of the Kingdom in promoting cooperation and progress in the world," the IsDB Group chairman said at the closing news conference.

He also noted that this year's event involved the meetings of the IsDB Group’s councils and more than 27 important side events, which included seminars and dialogue sessions in which an elite group of prominent intellectuals, experts, and researchers in various fields of development participated.

These meetings gathered more than 3,750 participants, including representatives of about 55 international and regional partner organizations, including 23 heads of leading institutions.

Regarding the activities of the Private Sector Forum, Al-Jasser said that the event saw the presence of a large group of experts, specialists, officials, and several business leaders, with more than 1,500 participants representing more than 60 countries. The forum included 17 events and the signing of more than 60 agreements with a total value of approximately USD $6.5 billion.

The events presented an ideal opportunity to exchange ideas and experiences, and also witnessed a rich demonstration of inspiring success stories, lessons learned, and innovative ideas to promote sustainable social and economic development, Al-Jasser said.

He also added that the topics discussed throughout this week will contribute to formulating a roadmap for the work of the IsDB in the coming years, including strategic partnerships.

Al-Jasser noted that the IsDB Board of Governors issued the “Golden Jubilee Declaration," which praised the role and achievements of the bank, and reaffirmed its noble principles and its core goals, with a focus on a group of enabling factors during the future phase, which are: strengthening governance, increasing concessional financing and grants, and consolidating leadership in the fields of Islamic finance and cooperation in the Southern countries.

Al-Jasser announced the signing of 85 financing agreements between IsDB Group institutions and 38-member countries and 22 international financial institutions, with a total amount exceeding USD $8 billion. The agreements include operations and projects in various sectors.

The IsDB Group chairman concluded his statement by saying, "The slogan for our annual meetings this year -- “Cherishing our Past, charting our Future: Originality, Solidarity and Prosperity” -- is not just a slogan but rather a solid approach that guides the path of the IsDB."

"We have been inspired by our ... achievements heritage, we learned from the lessons of the past fifty years, we were keen to unify our efforts in light of the current challenges, and we seized the promising opportunities to move forward towards a bright future", he said.