Multilateral Development Banks Vital to ‘Turning the Tide’ of Global Challenges, Secretary-General Says as Islamic Development Bank Marks 50 Years

Following is the text of UN Secretary-General António Guterres’ video message to the golden jubilee of the Islamic Development Bank, held in Riyadh today.

My warmest congratulations to the Islamic Development Bank on this milestone anniversary.

For 50 years you have been an engine of sustainable development:

Helping communities feed themselves, investing in infrastructure and bringing the benefits and joy of education to people around the world.

Your work has made a vital contribution to your Member Countries and to Muslim communities across the globe — particularly in the face of recent crises.  And it will remain essential in the future.

Our world faces grave challenges:

The lingering effects of the COVID-19 pandemic, high levels of debt that are choking many developing countries’ economies, and a climate crisis hitting the poorest, hardest.

As a result, the Sustainable Development Goals are way off track.

Multilateral Development Banks are vital to turning the tide.

We are relying on you to rapidly scale up long-term affordable finance — including by mobilizing far more private finance.

This is critical if countries are to have the means to invest in sustainable development and climate action.

The United Nations is your partner and your ally in these efforts.

And I wish you all the very best for the next 50 years.