According to Shada, the event, attended by senior officials of member countries, ministers of economy, and private sector managers, focused on strengthening economic cooperation, sustainable development, and supporting infrastructure projects.
The signing of financial contracts worth $5 billion and the approval of the 2026-2035 strategic framework were among the most important achievements of the meeting.
In this report, we will review the meeting in which Seyyed Rahmatollah Akrami, Acting Minister of Economic Affairs and Finance, was attending.
50th Annual Meeting of the Islamic Development Bank Group
The 50th Annual Meeting of IsDB in Algiers, Algeria, was attended by ministers of economy and finance, senior economic officials from 57 member countries, representatives of regional economic, financial and monetary organizations, as well as representatives of the private sector and international development bodies, to examine global economic challenges and sustainable development solutions.
What happened at the opening of the meeting?
The opening ceremony began on May 20, 2025, at the Abdelatif Rahal International Conference Center in Algiers, with a speech by Algerian Prime Minister Nadir Larbaoui.
In his speech, Larbaoui emphasized the importance of Islamic cooperation for sustainable development and the key role of the IsDB in strengthening economic solidarity among member countries.
Larbaoui also referred to Algeria's economic reform programs, diversification of the economy, and strengthening South-South cooperation, and called for joint action to address global challenges, develop technology, and support the Palestinian people.
In addition, Mohammed Al-Jasser, Chairman of the IsDB, highlighted the Bank's role in strengthening regional cooperation and sustainable development, citing global challenges such as climate change and economic volatility.
The chairman announced that the Bank had invested more than $1.4 billion in the health sector in 2023.
Al-Jasser also announced the launch of the Health Impact Investment Platform, which will work with the African Development Bank, the European Investment Bank, and the World Health Organization to improve cancer diagnosis and treatment in underdeveloped areas, especially in Africa.
Key resolutions of the IsDB's BoD
The Islamic Development Bank Board of Directors approved important resolutions at this meeting, including the following:
Approval of audited statements: IsDB Group, has approved its 2024 Annual Report and audited financial statements during the IsDB Group's 2025 Annual Meetings.
Formation of the Agenda Committee: A committee chaired by the Republic of Azerbaijan (the president of the 51st meeting) and comprising Gambia (Vice-President), Algeria, Togo, and Tunisia was formed to develop the agenda for the upcoming session.
Approval of the Report of the Executive Committee: The report of the performance of the Executive Committee of the 51st meeting was approved.
The BoG appointed the external auditors for IsDB: External auditors for the 2025-2030 period were appointed for the bank, the Waqf Investment Funds, the Global Waqf Foundation, the Palestinian People's Economic Waqf Fund, and the Islamic Development Bank Institute.
Appointment of the Host of the Next Meeting: Baku, the capital of the Republic of Azerbaijan, was selected to host the 51st meeting in 2026.
Appointment of the president and Vice-President of the Next Meeting: The Republic of Azerbaijan was selected as the president and the Republics of Gabon and Gambia as the Vice-president of the Executive Board for the 2025-2026 Session.
Allocation of funds for the technical assistance program (TAP): 10 percent of the Bank's annual net income from ordinary investment resources for 2026 was allocated to technical assistance operations.
Extension of the scholarship program: 3 percent of the Bank's annual net income was allocated to scholarship programs.
Establishment of the Preferential Financing Implementation Unit: An implementation unit was established to design the overall design of the Bank's preferential financing window.
Clearance of Libya's arrears: Libya's arrears in capital stock were cleared through the reduction of its shareholding in the Bank.
Approval of the Strategic Framework 2026-2035: The strategic framework of the IsDB for the next decade was approved in two five-year periods with time-bound programs and implementation mechanisms.
Restoration of Syria's membership: The membership of the Syrian Republic, which had been suspended since 2013, was restored.
Approval of the Agenda of Affiliated Institutions: The agenda of the International Islamic Trade Finance Corporation (ITFC) and the Islamic Private Sector Corporation (ICD) was approved.
An opportunity for bilateral talks
Rahmatollah Akrami, Acting Minister of Economic Affairs and Finance of Iran, held important meetings with senior officials on the sidelines of the summit.
Acting Minister of Economy meets with President of IsDB
A meeting with Mohammed Al-Jasser, President of IsDB, was one of these meetings. During the meeting, the two sides focused on removing obstacles to cooperation.
Al-Jasser, referring to Iran's position as one of the bank's major shareholders, appreciated Iran's recent efforts in financial and banking cooperation.
Akrami, emphasizing Iran's determination to enhance cooperation and address existing challenges, proposed the formation of a joint working group to develop a roadmap for targeted cooperation.
He also called for the bank to send a delegation to evaluate new projects in Iran and invited Al-Jasser to visit Iran, which was welcomed by the bank's president.
Meeting with Algerian Finance Minister
Also, in a meeting with Abdelkrim Bouzred, Minister of Finance and Chairman of the IsDB Board of Governors, stressed the need to develop economic and trade relations between the two countries.
Referring to the political relations, he considered the level of economic relations to be insufficient and proposed the formation of a joint technical and expert committee to formulate operational solutions.
The Algerian Minister of Finance, while welcoming the proposal, announced the formation of an expert team in the Algerian Ministry of Finance to examine solutions for developing relations.
He also considered the presence of Algerian businessmen at the Tehran Expo2025 an important step in developing economic relations.
Finally, Akrami invited the Algerian Minister of Finance to visit Iran, which was welcomed.
End of the 50th Summit
The closing ceremony of the summit was held on May 22, 2025 with the presence of representatives of countries, ministers of economy, bank heads, and senior private sector managers.
The following are among the most important achievements of this summit:
Approval of the 2026-2035 Strategic Framework
Approval of the 2026-2035 Strategic Framework was one of the most important achievements of the 50th Summit. The framework focuses on strengthening regional cooperation, transforming the Bank into a global forum on Islamic economics and finance, sustainable and inclusive development, and digital-driven institutional transformation.
Signing of financial agreements
The summit saw the signing of more than 70 financial agreements worth $5 billion with 26 member countries in the areas of health, transport, and education.
Cooperation with Algeria
A three-year cooperation framework was signed with the Government of Algeria to provide $3 billion in insurance and financial services to develop infrastructure and support the private sector.
Sustainable development projects
Allocation of $1.32 billion for climate-resilient infrastructure projects in Oman, road rehabilitation in Cameroon and Burkina Faso, strengthening the health system in Suriname, construction of a national cancer center in Djibouti, and food security and skills training projects in various countries.
2026 Summit Host Announced
The Republic of Azerbaijan was selected to host the next summit.
Meanwhile, the closing session of the meeting emphasized the role of the media in developing and promoting the goals of the Islamic Development Bank.
The 50th Annual Meeting of the Islamic Development Bank Group, focusing on diversifying economies and strengthening regional cooperation, was an important step towards sustainable development and supporting member countries. The signing of major agreements, the approval of long-term strategies, and the strengthening of bilateral relations are among the outstanding achievements of this international event.