ASIATODAY.ID, JEDDAH – The Islamic Development Bank (IsDB) Group and the New Development Bank (NDB) have officially strengthened their global partnership by signing a Memorandum of Understanding (MoU) aimed at expanding cooperation in infrastructure development and sustainable growth across emerging markets and developing economies.
The MoU was signed on December 10, 2025 at IsDB Group Headquarters in Jeddah by IsDB Vice President (Operations) Dr. Rami Ahmad and NDB Vice President and Chief Risk Officer Dr. Rajiv Ranjan, marking a major milestone in South-South development cooperation.
The agreement establishes a comprehensive framework for joint operations, including co-financing, technical collaboration, treasury cooperation, co-guarantees for investment projects, and structured knowledge-sharing initiatives. By leveraging their complementary expertise, financial strength, and global networks, both institutions aim to deliver greater development impact at scale.
The partnership reflects a shared commitment to advancing inclusive economic growth, social progress, and long-term sustainability in countries of mutual interest.
Focus on Infrastructure, Renewable Energy, and Climate Finance
Under the MoU, IsDB and NDB will prioritize the early identification, preparation, and co-financing of high-impact infrastructure projects, while expanding collaboration in key sectors such as:
Renewable energy and clean energy transition
Sustainable transport systems
Water supply and sanitation infrastructure
Climate finance and resilience
Private capital mobilization
In addition, both banks will cooperate on treasury management, explore risk-sharing mechanisms, and jointly implement capacity-building programs, including seminars, workshops, and staff exchange initiatives.
Strengthening South-South Cooperation
South-South cooperation remains central to the missions of both multilateral development banks. Through this partnership, IsDB and NDB will enable emerging economies to share expertise, technology, and tailored financial solutions, fostering peer-to-peer learning and co-financing projects that address shared regional challenges—from infrastructure deficits to climate vulnerability.
The alliance also reinforces the growing role of Global South–led multilateralism in shaping a more balanced, responsive, and sustainable global financial architecture.
Leadership Perspectives
Commenting on the signing, IsDB Vice President (Operations) Dr. Rami Ahmad stated:
“This Memorandum represents significant progress in both institutions’ commitment to sustainable development across member countries. Partnering with NDB allows IsDB to amplify development impact, support local communities, and address global challenges more effectively.”
Meanwhile, NDB Vice President and Chief Risk Officer Dr. Rajiv Ranjan emphasized the broader significance of the partnership:
“We are honored to formalize this Memorandum of Understanding with the Islamic Development Bank Group. By combining our expertise and resources, we seek to deepen cooperation across our member countries, strengthen infrastructure development, and promote inclusive and sustainable growth throughout the Global South.”
Advancing Global Development Outcomes
Joint initiatives under the MoU are expected to commence in the near term, with both institutions working together to improve living standards across shared member countries while contributing to global economic resilience and sustainable development.
About the Islamic Development Bank (IsDB) Group
Rated AAA by leading international rating agencies, the Islamic Development Bank Group is the pioneering multilateral development bank of the Global South, serving 57 member countries across four continents. For more than 50 years, IsDB has focused on delivering large-scale development impact by advancing green infrastructure, sustainable economic growth, and the achievement of the United Nations Sustainable Development Goals (SDGs). Headquartered in Jeddah, Saudi Arabia, IsDB operates through 10 regional hubs and multiple specialized institutions.
About the New Development Bank (NDB)
The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS) to mobilize resources for infrastructure and sustainable development in emerging markets and developing countries (EMDCs).
Since 2015, NDB has approved USD 41.9 billion in financing for 134 projects across sectors including clean energy, transport, water and sanitation, environmental protection, and digital infrastructure. NDB holds strong international credit ratings and continues to expand its global membership. (AT Network)
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