Development Effectiveness
ADER 2022 Annual Development Effectiveness Report
The last few years have seen an increase in global challenges stemming from financial, health and geo-political crises. Despite the challenges of 2022, the ICD partner and client network has achieved notable successes. According to the 2022 Annual Development Effectiveness Survey, ICD has contributed to sustaining employment for roughly 86,000 men and women, created an additional 15,000 new jobs, generated roughly USD 300 million in government revenues, and provided well over USD 172 million in funding to SMEs and helped sectors such as energy and health in its MCs.
The ICD is pleased to present the 2022 Annual Development Effectiveness Report (ADER), the ninth edition of the report, reporting on ICD’s development results and its efforts at increasing its development impact in our Member Countries (MCs) and Muslim Communities. The efforts reported are for the period from January 1st, 2022, through December 31, 2022.
The report highlights the importance of development partnerships comprising governments, the private sector, civil society organizations, and Multi-Lateral Development Banks (MDBs) such as the ICD working together to achieve the best value for money in terms of Development Impact. By broadening and deepening cooperation with sister MDBs in the development agenda, shared resources can be leveraged towards greater development impact.
The report also emphasizes the convergence of the business and development agendas since the launch of the SDGs. The ICD's Development Effectiveness Office (DEO) has led efforts in addressing SDG alignment by working with several international bodies towards the enhancement of ICD operations and interventions.
The ICD approach to sustainability is focused on generating long-term value for stakeholders, including clients, partners, employees, and MCs. This is achieved by improving transparency and accountability in alignment with international best practice standards and initiatives.
The 2022 ADER provides insights into how ICD activates its mandate to provide financing for private sector projects in MCs, with the aim to encourage cross-border investments, focus on economic development, create jobs, develop Islamic finance, grow exports, and promote competition and entrepreneurship.
The ICD expresses gratitude to its Board and Chairman, staff, partners, and clients for their dedication and hard work. The report concludes that every challenge will require collective expertise and solutions and with New Determination, the ICD can aim for New Horizons in contributing to the fulfillment of its mandate.