Statement by Dr. Bandar M.H. Hajjar - 101st Meeting - addressing COVID-19 crisis and IsDB response

Jul 19, 2026

Statement by Dr. Bandar M.H. Hajjar, President of the Islamic Development Bank Group, delivered at the 101st Meeting of the Development Committee on April 17, 2020 (virtual). The statement thanks the World Bank Group and IMF and outlines how COVID-19 threatens development gains, pushes millions toward poverty, and creates severe economic hardships through shutdowns, job losses, and declining remittances and tourism. It highlights uneven public-health and economic impacts on IsDB members, calls for equitable access to therapies and immunization, urges robust global collective action, and presents the IsDB Group’s ‘Strategic Preparedness and Response Program’ (SPRP) with a ‘Respond, Restore, and Restart’ (3Rs) approach covering health emergency response and economic and social recovery.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

AccessFree to download

Opening and context

Thanks to the World Bank Group and IMF

COVID-19 crisis impacts

Development gains and poverty risk

Economic trade-offs and job losses

Uneven effects on IsDB member countries

Lockdowns, social safety nets, and societal disruption

Calls for access and global cooperation

Equitable access to therapies and immunization

Debt vulnerabilities and donor support

IsDB response program

‘Strategic Preparedness and Response Program’ (SPRP)

Health emergency and economic/social recovery components

‘Respond, Restore, and Restart’ (3Rs) tracks

Public Disc losure Authorized DEVELOPMENT COMMITTEE Pub lic Disc losure Authorized (Joint Ministerial Committee of the Boards of Governors ofthe Bank and the Fund on the Transfer of Real Resources to Developing Countries) ONE HUNDRED AND ONE MEETING WASHINGTON, DC – APRIL 17, 2020 (VIRTUAL) DC/S/2020-0006 April 17, 2020 Statement by Dr. Bandar M.H. Hajjar President Islamic Development Bank Group Statement by Dr. Bandar M.H. Hajjar President, Islamic Development Bank Group 101st Meeting of the Development Committee April 17, 2020 Washington, DC (VIRTUAL) I would like to thank the World Bank Group and the International Monetary Fund for convening this virtual meeting at this critical juncture. We are in the midst of an unprecedented global pandemic that is wreaking havoc on our health systems, economies and societies. Addressing the ongoing devastation caused by this pandemic in an effective way requires a global response and concerted efforts by the multilateral development system. The Most Vulnerable Bear the Brunt of the COVID-19 Crisis The COVID-19 pandemic is likely to be seen as a serious setback to the hard-earned development gains achieved by developing nations over many years, threatening to descend millions of people back into poverty. Containing the spread of this highly infectious disease has put forth some tough trade-offs. Containment and isolation measures have resulted in a near total shutdown of the world’s economy, paving the way for an imminent global recession that will bring about economic hardships involving loss of millions of jobs worldwide. In mid-March, International Labour Organization (ILO) estimated that 25 million jobs could be lost worldwide as result of COVID-19, triggering a loss of income of up to US$3 .4 trillion. Today, these estimates appear optimistic as the crisis unfolds and its actual implications remain uncertain. According to Organization for Economic Co-operation and Development (OECD), economies are shedding up to 2 percent of GDP for every month spent in COVID-19 containment. Impact ofCOVID-19 on IsDB Member Countries The public health impact of the pandemic on IsDB member countries has been uneven so far. Yet, most of our member countries have been severely hit by reduced economic activity, collapse in oil and commodity prices, fall in remittances and tourism receipts, as well as trade and supply chain disruptions. Many member countries had to resort to lockdowns to contain the spread of COVID-19. Apart from how effective these lockdowns are from a public health perspective, they are yielding unintended economic consequences and inflicting great damage upon businesses and the most vulnerable segments of society, disrupting social cohesion and even law and order. Many of these countries are simply unable to provide adequate social safety nets to offset the economic toll of lockdowns, let alone the longer-term economic devastation this pandemic is likely to cause. Most member countries will also face difficulty in accessing the promising solutions necessary for combating COVID-19. The IsDB, therefore, strongly supports the calls for equitable access to therapeutic solutions and immunization measures (when these become available) and for effective global cooperation in this regard. Spurring Global Action In times like these, the spotlight is on public and supranational institutions to come to the rescue. Some will even judge the effectiveness of these institutions by their ability to provide help in the world’s hour of need. However, the depth and scale of the COVID-19 crisis is beyond anything we have experienced. It is beyond the capability of any single institution or country. Therefore, the need for effective collective action is now stronger than ever, not only to mitigate the global health and economic impact of this pandemic, but also most importantly to prevent the situation from turning into a global social and hu

FAQs

What is the purpose of Dr. Bandar M.H. Hajjar’s statement at the 101st Development Committee meeting?

It addresses the global health and economic devastation caused by COVID-19, highlights its impact on developing nations, and explains the Islamic Development Bank Group’s response approach to support member countries.

How does the statement describe the effect of COVID-19 on development gains and poverty?

It argues that the pandemic may reverse hard-earned development progress, threatening to push millions back into poverty through major disruptions to economies and livelihoods.

What actions does the statement call for regarding global cooperation and access to solutions?

It calls for equitable access to therapeutic solutions and immunization measures and for effective global cooperation, supported by robust collective action and measures related to donor financing and debt relief.

Jul 19, 2026

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