IsDB, IDB Group Sign MoU to Finance Development Projects in Suriname and Guyana

The Islamic Development Bank (IsDB) Group and the Inter-American Development Bank (IDB) Group signed a Memorandum of Understanding (MoU) in Riyadh to provide at least $1 billion over the next five years to support development projects in Suriname and Guyana.

 The renewed cooperation aims to promote inclusive and sustainable development in both countries, focusing on key sectors such as transport, energy, urban development, education, rural development, health, and resilience.

 President of the IsDB Group Dr. Muhammad Al Jasser reaffirmed the bank’s commitment to empowering member countries to achieve sustainable development goals. He noted that this renewed partnership with the IDB Group and the Islamic Development Investment Fund will enable the implementation of transformative projects that improve livelihoods, strengthen resilience, and foster shared prosperity in Suriname and Guyana.

 The framework also seeks to deepen cooperation between the two institutions in strategic areas, including trade and investment, with an emphasis on digital trade, tourism, and public-private partnerships. It further aims to promote sustainable transport solutions that enhance regional connectivity and climate resilience.