Dr. Rania Al-Mashat, Egypt’s Minister of Planning, and the country’s Governor at the Islamic Development Bank (IsDB), recently participated in the Governors Forum of the IsDB Group held in Medina, Saudi Arabia. The forum took place against the backdrop of the conclusion of the bank’s current strategic cycle in 2025 and the anticipation of the launch of a new strategic planning framework for the period 2026-2035.
The forum was chaired by Dr. Muhammad Suleiman Al-Jasser, President of the IsDB, and was attended by key figures, including Lazhar Fayed, Chairman of the Board of Governors and Minister of Finance of Algeria; Mohammed Abdullah Al-Jadaan, Minister of Finance of Saudi Arabia; and Ahmed Kouchouk, Egypt’s Minister of Finance and Alternate Governor at the IsDB, among other distinguished officials.
In her remarks, Dr. Al-Mashat reaffirmed Egypt’s steadfast belief in the transformative role that the IsDB plays in fostering economic and social development across its member countries. She outlined Egypt’s contributions to the strategic discussions for the 2026-2035 period, emphasizing the importance of building on the bank’s existing progress and aligning its future trajectory with emerging global challenges.
Dr. Al-Mashat underscored the need for a more integrated approach to development, addressing the interconnected challenges of poverty, inequality, and climate change that many member countries face. She stressed that comprehensive, multi-sectoral solutions are required. As part of this vision, she proposed initiatives such as sustainable housing projects that integrate renewable energy, water infrastructure, and educational facilities—solutions designed to address multiple developmental needs simultaneously.
Further reinforcing this vision, Dr. Al-Mashat advocated for the creation of innovation hubs that would bring together expertise across various sectors—health, education, infrastructure, and the environment. These centers would enable the development of tailored, holistic solutions designed to meet the unique needs of IsDB member countries.
In addition to her calls for greater integration, Dr. Al-Mashat highlighted the critical need for innovative financing mechanisms. She called for the expansion of financing strategies that can meet the growing resource demands of member countries while aligning with global sustainability goals. Specifically, she pointed to the potential of Islamic social finance tools aimed at addressing poverty and community development challenges, as well as green sukuk to fund renewable energy and climate-resilient infrastructure projects. These financial instruments, she argued, should complement the bank’s existing robust financing mechanisms, such as blended financing models designed to reduce project risks and attract private sector participation.
The forum offered a crucial platform for the IsDB’s Governors to engage in high-level consultations and discussions about the bank’s future direction. The meeting’s agenda included reviewing a working document that provides an analysis of the IsDB’s internal and external environments, and proposes strategic directions for the bank’s framework for 2026-2035.
As the IsDB prepares to enter a new strategic era, Dr. Al-Mashat’s remarks underscored Egypt’s commitment to shaping a future that leverages both innovative solutions and global partnerships to tackle pressing challenges, positioning the IsDB as a key driver of sustainable economic and social development in the coming decade.
