Saudi Gazette report

RIYADH — Minister of Finance and Saudi Arabia's Governor at the Islamic Development Bank (IsDB) Group, Mohammed Aljadaan, led the Kingdom’s delegation to the IsDB Group’s Annual Meetings held in Algiers from May 19 to 22.

Held under the theme “Diversifying Economies, Enriching Lives,” the meetings focused on advancing economic transformation and improving living standards across IsDB member countries, the Ministry of Finance said in a statement.

During the general session of the IsDB Board of Governors, Aljadaan addressed the group’s strategic framework for 2026–2035, describing it as a foundational roadmap for institutional performance in the coming decade.

“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,” Aljadaan said.

“An integrated system of indicators will ensure transparency, accountability, and effective monitoring of implementation plans.”

In a Governors Roundtable Meeting titled “Bridging the Gap: Multilateralism, Changing Trade Dynamics, and the Future of Development Finance,” Aljadaan highlighted the IsDB’s key role in driving economic growth, regional integration, and fostering intra-trade and joint investment among member states.

He called for greater synergy and coordination among IsDB-affiliated institutions.

He also urged support for structural reforms to ensure fiscal sustainability and economic stability in the medium and long term, while reinforcing trust in multilateral institutions through enhanced efficiency and inclusivity.

Aljadaan also took part in the High-Level Roundtable to operationalize the Riyadh Global Drought Resilience Partnership (RGDRP), stressing the urgent need to address the impact of drought, particularly in vulnerable regions like Africa and the Middle East.

“Drought is no longer a seasonal anomaly—it is a structural threat affecting 1.84 billion people globally, nearly 5% of whom face extreme conditions,” he said.

“Through the RGDRP, Saudi Arabia is reaffirming its Vision 2030 commitment to protect people, restore ecosystems, and foster shared prosperity.”

The IsDB Group’s Annual Meetings serve as a platform for international leaders, policymakers, and development experts to collaborate on advancing sustainable development, sharing knowledge, and addressing global economic challenges.