The Islamic Development Bank (IsDB) and the New Development Bank (NDB) have formalized a strategic partnership through a memorandum of understanding aimed at advancing technological cooperation and sustainable infrastructure development across developing countries.
The collaboration leverages shared resources, technical expertise, and financial networks to accelerate economic growth, climate resilience, and quality of life in member states.
Under the agreement, the two institutions will create a comprehensive framework for early identification, preparation, and co-financing of infrastructure projects in renewable energy, smart transport, water and sanitation, climate finance, and private investment mobilization.
The partnership also expands cooperation in treasury management, joint investment guarantees, and capacity-building programs through workshops, seminars, and staff exchanges.
Both institutions emphasize that sustainable development requires institutional synergy and effective use of the Global South’s financial and technological capabilities. The cooperation is expected to accelerate high-impact projects, empower local communities, and deliver stronger responses to global challenges.
Aligned with South–South cooperation principles and inspired by BRICS experience, the MoU enables technology transfer and region-specific financial solutions.
Ultimately, the initiative aims to strengthen the collective role of Global South countries in the international financial system while promoting indigenous, sustainable, and technology-driven development models. Joint projects are expected to enter implementation soon and generate tangible economic and social impacts.
Code: 1059-20260206
