The Road to the SDGs

PURPOSE X IsDB has embarked on a series of digital and virtual projects together with three of the IsDB Group’s private sector entities: 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). X The global pandemic gave rise to a new need to sustain foreign direct investment (FDI) momentum through virtual means in the absence of physical options and in light of the lockdowns and travel restrictions worldwide. X The aim of this cooperation is to help increase FDI net inflows for MCs by more than US$ 100 billion, of which US$ 50 billion will come from intra-OIC investment. X The initiatives are: – Digital country presentations for investment and trade opportunities – Made in… series for SMEs – Virtual pitch competitions for start-ups. METHOD X The three unique online initiatives have the following aims: – To help MCs’ economies – To connect with new partners – To promote cross-border investment and support the private sector, trade, exports and FDI in participating countries. X The initiatives have been launched and implemented successfully in more than 30 countries, with plans to extend to more countries. X The COVID-19 pandemic has given a major push to digital solutions. These initiatives placed digital innovation in the service of development, ultimately contributing to achieving the SDGs. X The initiative will help IsDB to support its MCs by developing their investment and trade capabilities, including connecting with new partners, enhancing South-South cooperation, sharing experience and co- financing development projects. X There is focus on creating an environment for sustainable and inclusive growth. ACHIEVEMENTS X Working through IsDB Group’s Business Forum (THIQAH), the Ministry of Economy of the United Arab Emirates and the Annual Investment Meeting, IsDB Group has announced the online initiatives, which have already been implemented successfully in more than 30 MCs. X The three initiatives are targeting clear objectives to meet their goals. T he IsDB Group Business Forum – THIQAH, together with IsDB Group’s private sector entities, has launched and implemented initiatives in more than 30 of IsDB’s MCs THIQAH online initiatives Investment/trade opportunities These first-of-their- kind initiatives aim to provide innovative solutions, allowing for a sustained flow of investment and trade into and among MCs [ 54 ] SDGs