The Islamic Development Bank Group affiliated institutions organized the 13th Private Sector Forum in Algiers

Zawya

21-05-2025

ALGIERS, Algeria -- The Islamic Development Bank Group (IsDBG) (www.IsDB.org) affiliated institutions organized the 13th Private Sector Forum from May 20 to 22, 2025, at Abdelatif Rahal International Conference Center in Algiers (People's Democratic Republic of Algeria). The forum was convened on the sidelines of the Group's annual meetings, under the high patronage of His Excellency President Abdelmadjid Tebboune, President of the People's Democratic Republic of Algeria.
The forum highlighted the IsDB Group's activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the People's Democratic Republic of Algeria. The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group's suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.
The forum agenda featured a series of dialogue sessions and workshops addressing key economic themes and development projects. Particiants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of success ventures.
The forum attracted high-level participation from Algerian government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.
In his opening remarks, His Excellency Dr. Mohammed Al Jasser, President of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: 'This forum is not just an annual event, but a renewed strategic platform through which we highlight the innovative tools and services offered by the Islamic Development Bank Group institutions to support investment and trade, and expand partnerships within our member countries, including the beloved Republic of Algeria. This session represents a unique opportunity for investors, businessmen, and CEOs from member countries to open channels of communication, establish partnerships, and forge business relations with their counterparts in the Republic of Algeria.'
In his turn, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated that the Private Sector Forum 'witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries' exports, and create new job opportunities.'
He added, 'Since its inception and until 2024, the ICIEC provided cumulative insurance coverage exceeding 121 billion USD, including 96 billion USD to support trade flows and more than 25 billion USD to facilitate foreign investments. Leveraging a robust global reinsurance network, the Corporation has mobilized a cumulative reinsurance capacity of 69 billion USD from the private reinsurance market. Through more than 65,000 transactions across vital sectors including agriculture, renewable energy, infrastructure, manufacturing, and healthcare, the Corporation continues to drive significant development impact across member countries."
On his part, Eng. Adeeb Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated, "The 13th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business investors greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.'
He added, 'Since its launch in 2008, ITFC has extended over 83 billion USD in financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, 19 billion USD was allocated to enhance SMEs competitiveness – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets.'
For more information, please visit the event website (www.IsDBG-PSF.org).
Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).
Media Contact:
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THIQAH:
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About The Islamic Development Bank (IsDB):
The Islamic Development Bank (IsDB), rated AAA by major international rating agencies, is a multilateral development bank that has strived to improve the lives of the communities it serves for over 50 years by delivering impact at scale. Operating in 57 member countries across four continents, IsDB's mission is to empower people to drive their economic and social progress and provide the infrastructure needed to enable them to reach their full potential.
Headquartered in Jeddah, Saudi Arabia, the Bank also operated regional offices and centers of excellence in 11 member countries. Over the years, the Bank has evolved from a single entity into a group of five entities comprising: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) in charge of research and Training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC).
About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
Established in 1994, ICIEC seeks to strengthen economic relations and stimulate trade and investment among OIC member countries through the provision of risk mitigation instruments and financial solutions. It remains the world's only multilateral insurer operating in compliance with Islamic Sharia.
ICIEC currently serves 50 countries and has maintained its "Aa3" insurance credit rating from Moody's for 17 consecutive years – the among credit and political risk insurers. It also received a first-time long-term credit rating of AA- from Standard & Poor's with a stable outlook. The Corporation's resilience is underpinned by sound underwriting, reinsurance and risk management practices. To date, ICIEC has cumulatively insured over 121 billion USD in trade and investment across key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, visit: http://ICIEC.IsDB.org
About the Islamic Corporation for the Development of the Private Sector (ICD):
A member of the Islamic Development Bank Group, ICD is a multilateral financial institution with an authorized capital is 4 billion USD, of which 2 billion USD is available for subscription. Its shareholders comprise the Islamic Development Bank, 56 member countries, and five public financial institutions.
Since its inception in 1999, the Corporation has played a pivotal role in fostering inclusive and sustainable growth through Shariah-compliant financing, cross-border investments, and vital infrastructure development. ICD has contributed significantly to enhancing the economic landscape of its member countries.
About the International Trade Finance Corporation (ITFC):
A member of the Islamic Development Bank Group, ITFC was established to promote trade among OIC member countries, contributing to their economic development and social well-being. Since commencing operations in January 2008, ITFC has provided over 83 billion USD in trade finance, becoming a leader in delivering tailored trade solutions.
The Corporation's mission is to serve as a catalyst for trade development, helping member countries access finance and capacity building programs to enhance competitiveness and global market integration.
About the Islamic Development Bank Group Business Forum (THIQAH):
THIQAH serves as the private sector interface of the IsDB Group, facilitating engagement and collaboration between the Group entities and businesses in member countries. Its core aim is to build an inclusive, strategic platform for dialogue, cooperation and partnerships focused on high potentials investment opportunities.
By leveraging IsDB Group resources, THIQAH offers support services and confidence to investors while promoting cross-border investment flows withing member countries.
Website (www.IDBGBF.org)
SOURCE: Islamic Development Bank Group (IsDB Group)