‏ Minister of Finance Heads Saudi Delegation at Islamic Development Bank Group’s Annual Meetings

His Excellency the Saudi Minister of Finance and Governor of the Islamic Development Bank Group (IsDB), Mr. Mohammed Aljadaan, headed the Kingdom’s delegation participating in the IsDBGroup’s Annual Meetings, held May 19-22, 2025 in Algiers. The meetings were held under the theme “Diversifying Economies, Enriching Lives,” reflecting the IsDB Group’s commitment to supporting economic transformation and improving living standards in member countries.

‏During his participation in the general session of the IsDB Group’s Board of Governors, Minister Aljadaan discussed its strategic framework for 2026–2035, which he said represents a vital roadmap for the future and lays the foundation for a new phase of effective institutional performance. “We all recognize that the success of this ambitious vision is closely tied to the establishment of clear and practical mechanisms for measuring development impact, and the adoption of an integrated system of indicators to assess that impact—ensuring transparency, enhancing accountability, and enabling continuous and effective monitoring of implementation plans,” Minister Aljadaan said.

‏During the Governors Roundtable Meeting held under the theme “Bridging the Gap: Multilateralism, Changing Trade Dynamics, and the Future of Development Finance,” Minister Aljadaan emphasized the pivotal role played by the IsDB Group in promoting economic growth, regional integration, and facilitating intra-trade and joint investments among member states. He also highlighted the importance of maximizing synergy and coordination among IsDB-affiliated institutions.

‏He emphasized that the current circumstances and realities call for:supporting economic recovery by adopting structural reforms aimed at achieving fiscal sustainability and economic stability over the medium- and long-term; and strengthening confidence in the role of multilateral institutions by enhancing their effectiveness, resilience, and inclusiveness.

‏Minister Aljadaan also participated in participated in the High-LevelRoundtable to Operationalize the Riyadh Global Drought Resilience Partnership (RGDRP), during which he emphasized that regions like Africa and the Middle East face especially severe conditions, because drought undermines food security, destabilizes economies, and puts sustainable development at risk. “Recognizing the urgency, the Kingdom of Saudi Arabia launched the Riyadh Global Drought Resilience Partnership (RGDRP), that reflects our broader commitment, under Saudi Vision 2030, to protect people, restore land, and lay the foundation for shared, sustainable prosperity. This partnership builds upon our ongoing national, regional, and global efforts,” Minister Aljadaan said.

‏He also explained that drought is no longer a seasonal anomaly, andis now a structural threat. Today, drought affects 1.84 billion people globally, with nearly 5% facing extreme conditions.

‏The IsDB Group’s Annual Meetings serve as a vital platform for global leaders, policymakers, development actors, and other stakeholders to come together and discuss ways to promote inclusive and sustainable development, and to address shared economic challenges. The Annual Meetings also highlight the IsDB Group’s commitment to supporting economic transformation and improving living standards in member countries. Additionally, they offer valuable opportunities for networking, knowledge exchange, and engagement with global leaders and development experts.