The Road to the SDGs

ACHIEVEMENTS X In 2019, IsDB, for the first time, opened a new avenue of collaboration with the private sector by leveraging its RL mechanism, which culminated in the establishment of funding mechanisms with a total financial contribution of US$ 45 million for MCs. IsDB signed an agreement with Serba Dinamik Group Berhad, an energy sector private company in Malaysia, to set up a US$ 30 million RL Fund that provides financial and technical resources to help MCs to establish vocational training centres in the oil and gas sector that could boost employment, among other benefits. X During the same year, IsDB signed an agreement with Warisan Quantum Management, a Malaysian Shariah-compliant private equity management company, to allocate US$ 15 million to a RL Fund that supports Malaysian SMEs interested in participating in RL activities and in potential business opportunities as a result of RL projects. X In 2020, IsDB continued its engagement with the private sector and received pledges of up to US$ 88.6 million for RL. X During the year, a particular highlight was the expansion of the network of developers outside MCs. IsDB, through RL, partnered with the private sector from Singapore for the first time. INVESTMENT X Partnership with the private sector through RL has yielded tangible interventions for MCs. In 2020, during the COVID-19 crisis, Jordan benefited from the transfer of expertise and technology from Singapore. PATEC Pte Ltd (Singapore) will support King Abdallah II Design and Development Bureau in order to develop their capacity in producing N95 masks by providing a turnkey solution. This solution transfer will enable Jordan to be self-sufficient in producing personal protective equipment and also to export it to other MCs, strengthening the country’s pharmaceutical industry. X Also in 2020, Serba Dinamik Holding Berhad from Malaysia donated a pandemic response package worth US$ 2.25 million in support of IsDB’s COVID-19 Strategic Preparedness and Response Programme. This reflects the importance of its relationship with IsDB and its substantive contribution towards development. In September 2020, Serba, in partnership with IsDB, deployed US$ 550,000 of this donation to Guinea and Senegal. Serba also sent a consignment of critical medical personal protective equipment from Malaysia to both countries via airfreight to be distributed locally. X These examples demonstrate how RL is paving the way for a new generation of active and socially responsible private companies willing to directly partner with MDBs such as IsDB, to increase the positive impact of development activities to improve the quality of life of people in MCs. P R I V A T E S E C T O R P L E D G E S A total of US$133.6 million mobilised and pledged from the private sector for RL in 2019 and 2020 R L C O N N E C T I O N S 31 MCs connected [ 89 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S