IsDB President: Net Approvals for MENAP Reach US$87.8 Billion

President of the Islamic Development Bank (IsDB) Dr. Muhammad Al Jasser noted that the bank’s net approvals dedicated to the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) have reached US$87.8 billion since the institution's establishment. This represents 45 percent of all IsDB Group’s approvals.

 Dr. Al Jasser made the remarks while addressing a high-level meeting convened by Managing Director of the International Monetary Fund Kristalina Georgieva with finance ministers, central bank governors, and heads of regional financial institutions from MENAP. The meeting took place on the sidelines of the World Bank and IMF Spring Meetings in Washington.

 He stated that the energy, industry, and agriculture sectors represent 80 percent of net approvals for MENAP, underscoring the bank's strategic focus on addressing critical development needs and enabling long-term transformation.

 Dr. Al Jasser emphasized that Islamic finance plays a vital role in bridging funding gaps, with the bank issuing sukuk valued at over US$52 billion—more than 50 percent of which has been allocated to investors from MENAP to finance sustainable development projects.