About the Islamic Development Bank
Established in 1975, the Islamic Development Bank (IsDB) aims to foster socioeconomic development in its 56 member countries, as well as Muslim communities in non-member countries, in accordance with the principles of Shari’ah Law.
The IsDB provides loans and grants to finance development activities in member countries and in Muslim communities in non-members. It also provides technical assistance for capacity building and scholarships for human capital development. It manages special funds and mobilizes resources through Shari’ah compatible mode.
The IsDB is headquartered in Jeddah. It has four regional offices in Kazakhstan, Malaysia, Morocco, and Senegal.
View IsDB’s website here.
The IsDB and CAREC
The IsDB is one of the six multilateral institutions that support CAREC. It actively participates in institutional events, such as the ministerial conferences and senior officials meetings, as well as in sector coordinating committees’ meetings.
The IsDB has supported projects in the CAREC priority areas. Between 2005 and 2010, it funded some $716 million for projects in transport, trade, and energy.
Eight of the 10 CAREC countries are IsDB members—Afghanistan, Azerbaijan, Kazakhstan, the Kyrgyz Republic, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.