ICD actively collaborates with a diverse range of stakeholders to enhance the private sector’s role in tackling global development challenges. Strategic partnerships serve as a cornerstone of these efforts, driving impactful outcomes and fostering sustainable growth.

Leveraging Partnerships to Empower Businesses and Inspire the Future

ICD has strategically positioned itself as a key enabler of economic growth and sustainability by fostering impactful partnerships.

Through its alliances with development institutions, multilateral development banks, and international organizations, ICD has significantly enhanced the availability of financing, technical expertise, and market opportunities for businesses across its member countries. These collaborations have been instrumental in driving the private sector’s growth, particularly in critical areas such as renewable energy and infrastructure, where they have spurred innovation, accelerated economic development, and advanced sustainability.

In 2024, ICD further solidified its role as a trusted partner and catalyst for progress by tapping into its expansive network. This network includes multilateral development banks, development finance institutions, sovereign wealth funds, financial institutions, central banks, and technical advisors. Together, these stakeholders have contributed to ICD’s efforts to address complex development challenges and seize emerging opportunities within member countries. By leveraging this ecosystem, ICD has bridged financing gaps, facilitated knowledge sharing, and promoted best practices in sustainable development.

Remaining steadfast in its mission to empower the private sector, ICD has also prioritized aligning with partners who share a common vision for economic resilience and environmental responsibility. These partnerships have resulted in numerous joint initiatives, from co-financing major projects to deploying technical assistance programs that support enterprises at various stages of growth. The focus on renewable energy, for instance, has not only helped reduce carbon footprints but also ensured energy access for underserved regions, improving quality of life and creating jobs.

ICD’s commitment to sustainable development goes beyond financial contributions. Its partnerships have fostered innovation in business models, enhanced institutional capacity, and opened doors to new markets for private enterprises. By integrating sustainability into the core of its operations, ICD has enabled long-term value creation, supporting member nations in achieving their developmental goals.

Looking forward, ICD is committed to enhancing its partnerships with aligned organizations, ensuring that its efforts create a lasting impact. By continuing to foster synergies across sectors and regions, ICD is poised to play an even more influential role in shaping a prosperous, inclusive, and sustainable future for its member countries

ICD Partnerships in 2024

Technical Coordination Committee (TCC)

ICD worked closely with other IsDB Group entities, particularly ITFC and ICIEC, strengthening intra-group collaboration through regular TCC meetings and CEOs meetings.

Newly Formed Partnerships and MOUs for Pipeline Sharing and Co-Financing

ICD has made significant strides in advancing its partnership initiatives during the first half of 2024. Newly established Memoranda of Understanding (MOUs) and collaborations emphasize co-financing and pipeline sharing, with a focus on driving sustainable development across key sectors in member countries, including Uzbekistan, Saudi Arabia, Azerbaijan, and several African nations.

This summary highlights ICD’s partnership activities, underscoring its unwavering commitment to fostering development finance through strategic alliances, co-financing opportunities, and comprehensive support programs. Enhanced cooperation with multilateral and bilateral partners is paving the way for transformative projects, critical to fostering economic growth and sustainability in member countries.

ICD’s Key Activities and Initiatives in 2024

Country Work Program for Uzbekistan (2024-2026)

In May 2024, ICD launched its 2024-2026 Country Work Program for Uzbekistan, committing up to USD 400 million. This initiative focuses on supporting the private sector in manufacturing, energy, infrastructure, and SME financing, aligning with the country’s development priorities.

Co-Financing and Pipeline Sharing Initiatives

ICD has strengthened its collaborative efforts with key partners to share resources and co-finance impactful projects. Notable partnerships include:

Strategic Engagements with Development Financial Institutions

ICD conducted a series of workshops with multilateral development banks (MDBs) and international financial institutions (IFIs) to enhance collaboration and explore co-financing opportunities. Key partners included:

Arab-Africa Trade Bridges Program (AATB)

The AATB Program is a strategic initiative aimed at addressing challenges in regional trade between Africa and other regions. ICD remains committed to the program, focusing on private sector development to tackle food security, education, health, and infrastructure challenges. Public-Private Partnerships (PPPs) are central to these efforts, driving economic growth and sustainable trade solutions. Additionally, ICD has enhanced its role as a facilitator of Sukuk issuance to mobilize capital for development projects in member countries.

Participation in the Africa Investment Forum (AIF)

ICD participated in the AIF Market Days held in Rabat, Morocco, from 4-6 December 2024. Representing the IsDB Group alongside other entities, ICD contributed to 35 boardroom discussions showcasing deals worth USD 40 billion. The focus was on project finance opportunities in mining, infrastructure, transportation, and power sectors, reinforcing investment facilitation efforts.

Knowledge Sharing Initiatives

ICD has prioritized capacity-building and innovation through virtual and in-person workshops that focus on strategic partnerships and innovative financing solutions, such as Sukuk. Key activities included: