Fin des travaux des assemblées annuelles de la BID en Algérie
Summary of the Annual Meetings of the Islamic Development Bank (IDB)
The annual meetings of the Islamic Development Bank (IDB) took place from May 19-22, 2025, at the International Conference Center "Abdellatif Rahal" in Algiers, under the high patronage of President Abdelmadjid Tebboune. The event attracted around 4,000 participants from 89 countries and 70 institutions, who engaged in discussions about common challenges and sustainable development priorities among member states.
Key Highlights
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Digital Platform Launch:
A significant outcome of these meetings was the introduction of an electronic platform aimed at bolstering cooperation among South countries. This initiative will connect institutions from the IDB’s 57 member countries, facilitating the exchange of expertise, knowledge, and solutions in confronting developmental challenges. -
Agreements Signed:
The meetings culminated in the signing of over 70 agreements involving 26 member states and various regional institutions, amounting to approximately $5 billion. This illustrates the strong commitment towards collaborative efforts in tackling developmental issues. -
Algeria-IDB Cooperation:
Notably, a strategic cooperation framework agreement for the period 2025-2027 was established between Algeria and the IDB. This agreement aims to support sectors crucial for enhancing competitiveness, economic diversification, infrastructure development, and private sector support. The agreement is structured around four key areas:- Strengthening instruments of Islamic finance
- Mitigating the effects of climate change
- Empowering women and youth
- Developing capabilities and skills
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Institutional Collaborations:
Several Algerian financial institutions signed agreements with entities under the IDB umbrella. Noteworthy agreements included:- A memorandum of understanding between the National Bank of Algeria (BNA) and the Islamic Corporation for the Development of the Private Sector (ICD).
- An agreement between the Algerian Popular Credit (CPA) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
- An agreement between the Algerian Company for Insurance and Guarantee of Exports (CAGEX) and ICIEC.
Moreover, collaborations were formed between the Association of Banks and Financial Institutions (ABEF), the Algerian Chamber of Commerce and Industry (CACI), and the Arab-African Center for Investment and Development (CAAID) with the Business Forum (Thiqah) to enhance investment and economic cooperation in Algeria.
- Success and Outcomes:
At a press conference following the meetings, Finance Minister Abdelkrim Bouzred expressed that the events were a substantial success, exceeding expectations in terms of organization, content, and the quality of discussions. IDB President Muhammad Sulaiman Al-Jasser also acknowledged the effective and congenial atmosphere facilitated by President Tebboune’s patronage, remarking on the smooth and productive execution of the meetings.
Overall, the annual meetings of the Islamic Development Bank served as a critical platform for fostering international cooperation, addressing shared developmental challenges, and promoting sustainable growth among member states, particularly in the context of Algeria’s strategic economic development goals.
