Baku: At a time when the global economy is grappling with mounting development and financial challenges, Azerbaijan is preparing to host the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku from 16 to 19 June under the theme 'Regional Integration as a Catalyst for Sustainable Prosperity.'
According to State Information Service Egypt, Dr Rami Ahmed, Vice-President for Operations at the Islamic Development Bank Group, underscored Egypt's status as one of the institution's leading strategic partners, revealing that cumulative approvals for the country had reached approximately $28.9 billion as of March 2026, making Egypt the second-largest beneficiary of the Group's operations among its member states. He also announced the launch of consultations on a new Strategic Partnership Programme for 2027-31, reaffirming the Group's commitment to supporting infrastructure, energy, and food security projects, while strengthening private-sector participation and attracting greater investment.
Throughout the interview, Dr. Ahmed stressed that the IsDB Group regards Egypt's private sector as a key driver of sustainable growth and job creation, highlighting the country's strategic geographic position, diversified industrial base, and expanding infrastructure as major competitive advantages. He said Egypt is well placed to become a regional hub for trade, investment, and integrated value chains linking Africa, the Middle East, and Europe.
Reviewing the country's recent economic performance, he commended the government's efforts to reinforce macroeconomic stability, improve the investment climate, expand social protection programmes, and modernize infrastructure. Despite successive global shocks, he said that Egypt has demonstrated notable resilience, supported by an ongoing reform agenda to preserve stability while stimulating productive sectors.
Among the Group's flagship projects in Egypt are the Egypt-Saudi Arabia electricity interconnection project and the high-speed electric rail network. The energy sector accounts for around 54.7 percent of the Group's interventions in the country, representing nearly $15.8 billion, followed by agriculture and real estate.
Looking ahead, Dr. Ahmed expressed optimism about expanding co-operation with Egypt through a new strategic partnership framework aligned with the government's development priorities. The Group is exploring financing opportunities for projects capable of delivering measurable development impact while supporting long-term economic transformation.
He also highlighted the growing importance of renewable energy and green hydrogen within the co-operation agenda, noting that the Group is studying financing opportunities for commercially viable projects with sustainable development benefits. In addition, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the IsDB Group, has supported the 1.1GW Suez Canal Wind Energy Project.
Food security remains another strategic priority. Dr. Ahmed pointed to an annual co-operation programme worth up to $1.5 billion to support food security, energy needs, and the provision of essential commodities in Egypt, while continuing to strengthen agricultural investment and food value chains across Africa.
The interview also highlighted the Group's commitment to supporting small and medium-sized enterprises through financing, capacity-building programmes, and improved access to regional and international markets. It also supports initiatives promoting women's economic empowerment and entrepreneurship, including the SheTrades initiative implemented in partnership with the International Trade Centre (ITC).
On multilateral development finance, Dr Ahmed said that the Group is expanding the use of innovative Islamic financial instruments and mobilizing additional resources to help member countries navigate rising global financing costs. New mechanisms, including results-based financing, are also being developed to improve efficiency, accelerate implementation, and maximize development outcomes.
Discussing the opportunities presented by the African Continental Free Trade Area (AfCFTA), he said that Egypt is well-positioned to expand its exports and deepen its presence across African markets, particularly in food industries, pharmaceuticals, construction materials, and logistics, leveraging its strategic location and infrastructure.
Concluding with a message to international investors, Dr. Ahmed said that Egypt offers long-term investment opportunities based on its strategic location, large domestic market, modern infrastructure, and diversified industrial base. He expressed confidence that continued economic reforms and a growing role for the private sector will strengthen investor confidence and attract higher levels of foreign investment in the years ahead.