[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110095-en":3,"doc-seo-110095-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":20,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},110095,1099513958762,"Logic","https://ap-avatar.wpscdn.com/avatar/1000023916a998db790?x-image-process=image/resize,m_fixed,w_180,h_180&k=1784791008015729253",8,"Research & Report","Statement by Dr. Muhammad Al-Jasser - 107th Meeting of the Development Committee - April 12, 2023","Statement by Dr. Muhammad Al-Jasser, President of the Islamic Development Bank (IsDB) Group, for the 107th Meeting of the Development Committee on April 12, 2023. The statement highlights overlapping global crises—pandemic recovery pressures, the East European crisis, and climate-driven shocks—intensifying inflation, tightening liquidity, and weakening growth. It outlines IsDB members’ growth deceleration and rising inflation, stresses risks for low-income countries, and describes strengthened development financing partnerships alongside lessons for agriculture, poverty reduction, and food security.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND SEVENTH MEETING WASHINGTON, DC – APRIL 12, 2023  \nDC/S/2023-0002 April 12, 2023  \nStatement by  \nDr. Muhammad Al-Jasser President  \nIslamic Development Bank (IsDB) Group  \nStatement by  \nDr. Muhammad Al-Jasser  \nPresident  \nIslamic Development Bank (IsDB) Group  \n107th Meeting of the Development Committee  \nApril 12, 2023  \nWashington, DC  \nIntroduction  \nThe Islamic Development Bank (IsDB) Group extends its appreciation to the World Bank and International Monetary Fund (IMF) for the invitation to participate in the 107th meeting of the Development Committee.  \nThe meeting is taking place at a time of one crisis after another, exacerbating the uncertainties facing the global economy. The East European crisis made the recovery efforts from the Covid-19 pandemic even more complex and its timeline more uncertain. The confluence of pandemic recovery and the East European crisis fueled accelerating inflation resulting in tighter global monetary conditions. In the lives of many of our constituents, it has turned into a cost-of-living crisis.  \nAt the backdrop of the cost-of-living crisis is the unpredictable and intense climatic conditions brought by climate change, manifesting through extreme heat, droughts, floods, and other environmental disasters. These are displacing many people and their livelihoods, especially those in agriculture.  \nThus far, the impact of these challenges has been reflected in the slow growth of the global economy. In 2022, the global economy only grew by 3.2 percent from a solid post-Covid-19 recovery of 6 percent in 2021. The slowdown is forecasted to persist in 2023, driven by the growth deceleration in major economies such as the US, China, and the Eurozone.  \nIsDB Member Countries  \nIsDB member countries are likewise affected by the global economic slowdown. Economic growth in member countries decelerated marginally from 5.4 percent in 2021 to 5.1 percent in 2022 and is projected to decelerate further to 4 percent in 2023. While this appears generally optimistic compared to the global outlook, it masks the projected sharp deceleration in IsDB fuel-exporting member countries of 3.4 percent in 2023 from 4.6 percent in 2022.  \nWhile non-fuel exporting member countries appear to drive average growth in IsDB member countries – projected to be 5.4 percent and 4.3 percent in 2022 and 2023, respectively – inflation in these countries is accelerating. Inflation for non-fuel exporters is projected to be 21.1 percent in 2022, up from 12.7 percent in 2021. Meanwhile, for all IsDB member countries, inflation is forecasted to average 17.6 percent in 2022 from 10.5 percent in 2021, subsiding to 15.3 percent in 2023.  \nAmid the decelerating growth and accelerating inflation are the tightening of global liquidity and the shrinking of concessional financing resources. This threatens our efforts to boost recovery, tackle poverty, build resilience, and drive green economic growth. These challenges cause severe difficulties for many of our low-income member countries facing debt sustainability issues and food insecurity.  \nIn 2022, the IsDB intensified its engagement with development financing partners, yielding a contribution of US$2.29 billion on top of the existing US$1.14 billion IsDB financing for various development projects in member countries. Additionally, the IsDB Group reached a landmark collaboration with the Arab Coordination Group, earmarking US$10 .54 billion for a comprehensive food security response program and US$24 billion for climate finance initiatives.  \nIn recent years, the IsDB bore witness to the significance of deepening partnerships in addressing perennial and emerging development challenges facing member countries. We have scaled up not only financing","cbCaio0hk7V7x6Xb","https://ap.wps.com/l/cbCaio0hk7V7x6Xb","pdf",248978,4,1,"English","en",105,"# Introduction\n## Global economic conditions and key crises\n# IsDB member country outlook\n## Growth deceleration and inflation pressures\n# Partnerships and financing update\n## Collaboration and development financing contributions\n# Critical lessons for development financing interventions\n## Agriculture for poverty reduction and food security","[{\"question\":\"What major global crises does the statement link to today’s economic challenges?\",\"answer\":\"It connects the pandemic recovery with the East European crisis and highlights climate change impacts such as extreme heat, droughts, floods, and related environmental disasters.\"},{\"question\":\"How does the statement describe economic growth and inflation in IsDB member countries?\",\"answer\":\"It reports marginal growth deceleration from 5.4% (2021) to 5.1% (2022) and projected further deceleration, while inflation accelerates and reaches much higher levels in non-fuel exporting members.\"},{\"question\":\"What financing and partnership actions does IsDB emphasize in response to these conditions?\",\"answer\":\"It notes increased engagement with development partners, additional financing contributions, and landmark collaboration with the Arab Coordination Group for food security and climate finance initiatives.\"}]","Statement by Dr. Muhammad Al-Jasser - 107th Meeting of the Development Committee - April 12, 2023 | PDF",1784483880,10,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"statement-by-dr-muhammad-al-jasser-107th-meeting-of-the-development-committee-april-12-2023","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/statement-by-dr-muhammad-al-jasser-107th-meeting-of-the-development-committee-april-12-2023/110095/",{"url":52,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What major global crises does the statement link to today’s economic challenges?","Question",{"text":75,"@type":76},"It connects the pandemic recovery with the East European crisis and highlights climate change impacts such as extreme heat, droughts, floods, and related environmental disasters.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How does the statement describe economic growth and inflation in IsDB member countries?",{"text":80,"@type":76},"It reports marginal growth deceleration from 5.4% (2021) to 5.1% (2022) and projected further deceleration, while inflation accelerates and reaches much higher levels in non-fuel exporting members.",{"name":82,"@type":73,"acceptedAnswer":83},"What financing and partnership actions does IsDB emphasize in response to these conditions?",{"text":84,"@type":76},"It notes increased engagement with development partners, additional financing contributions, and landmark collaboration with the Arab Coordination Group for food security and climate finance initiatives.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":29,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":29,"slug":133},"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]