His Excellency the Saudi Minister of Finance & Governor of the Islamic Development Bank Group (IsDB), Mr. Mohammed Aljadaan, headed the Kingdom's delegation participating in the IsDB Group's Annual Meetings, held June 16-19, 2026 in Baku, Azerbaijan. The meetings were held under the theme “Regional Integration for Sustainable Prosperity".
Minister Aljadaan participated in a roundtable discussion held on the sidelines of the meetings, during which he stressed the importance of the Concessional Fund to support development efforts, as well as to enhance member countries' capacity to face crises and accelerated geopolitical and economic transformations. These challenges have led to a slowdown in growth, a rise in debt levels, and pressures on food security and energy, contributing to the widening of the financing gap facing least-developed countries (LDCs).
He explained that the sustainability of the Bank's Concessional Fund is a collective responsibility for all member countries. He noted that, in light of increasing development challenges, solidarity among countries is essential to enhance the Fund's financial resources, enabling it to fulfill its mission and sustainably meet the needs of LDCs.
Minister Aljadaan affirmed the Kingdom of Saudi Arabia's appreciation for the role played by the IsDB in promoting economic cooperation among member countries. He also reiterated the Kingdom's continuous support for all efforts that contribute to achieving sustainable and comprehensive development, in a way that serves the peoples of the Islamic world and promotes stability and prosperity.
In addition, Minister Aljadaan affirmed during the High-Level Roundtable Meeting held under the patronage of H.E. the President of the Republic of Azerbaijan, Ilham Aliyev, the importance of strengthening economic cooperation, expanding development partnerships, and fostering sustainable growth through greater economic integration.
He stressed that the current global environment is shaped by geopolitical tensions, supply chain disruptions, and heightened uncertainty, which necessitates adopting a development approach that promotes growth while enhancing resilience.
He also highlighted the importance of shifting from financing individual projects to building integrated economic systems, positioning resilience as a core development objective, and evolving the role of development finance institutions to mobilize private capital and catalyze long-term investment partnerships that support sustainable development and shared prosperity.
The Annual Meetings also highlight the IsDB Group's commitment to support economic transformation and to improve living standards in member countries. Additionally, they offer valuable opportunities for networking, knowledge exchange, and engagement with global leaders and development experts.