In a significant move to bolster sustainable development, the Islamic Development Bank (IsDB) and the Inter-American Development Bank Group (IDB Group) have renewed their strategic partnership, committing $1 billion over the next five years to support Suriname and Guyana. The agreement, formalized through a memorandum of understanding (MoU), focuses on key sectors including transportation, energy, urban development, education, rural development, health, and resilience. This collaboration aims to drive inclusive growth, enhance regional connectivity, and build climate resilience in both nations. IsDB President Dr. Muhammad Al Jasser emphasized the commitment to transformative projects that improve livelihoods and promote shared prosperity. IDB Group President Ilan Goldfajn highlighted the partnership’s potential to unlock co-financing opportunities and foster inclusive growth. Beyond Suriname and Guyana, the partnership will also benefit other member countries with significant Muslim populations, promoting trade, investment, and sustainable transportation solutions. Both institutions reaffirmed their dedication to knowledge sharing and impactful development solutions, strengthening cooperation among Latin America, the Caribbean, Gulf States, and other stakeholders.
Islamic Development Bank and IDB Group announce $1 billion financing for development in Suriname, Guyana
