By Murtala Muhammad
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for bold reforms and smarter investments at the Islamic Development Bank Governors’ Retreat in Al-Madinah, Saudi Arabia.
The retreat brought together stakeholders to deliberate on the bank’s next 10-year strategy for enhanced developmental impact.
In his address, Minister of Finance, Mr Wale Edun emphasised the need for Islamic Development Bank (IsDB) to adapt its development financing approach to the evolving economic landscape.
Mr Edun proposed transformative, high-impact projects in sectors such as infrastructure, agriculture, rail, and energy to maximise returns and ensure sustainable financing.
He also underscored the urgency of innovative funding solutions tailored to national priorities and debt dynamics.
The Minister advocated for a concessional financing strategy that achieves development objectives while minimising debt accumulation for member countries.
Speaking, Algeria’s Finance Minister and Chairman of the IsDB Board of Governors, Laaziz Faid, and Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, called for collective commitment to address global development challenges.
A statement by the Ministry’s Director, Information and Public Relations, Mohammed Manga says the upcoming strategy aims to address pressing development challenges amidst a rapidly changing global landscape, focusing on impactful and sustainable solutions.
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