Islamic Development Bank Group chairman Muhammad Al Jasser met with International Monetary Fund managing director Kristalina Georgieva during the 2026 World Bank Group and IMF Annual Meetings in Bangkok. This high-level meeting occurred as the Islamic Development Bank Group and the government of Benin finalized co-financing agreements for two major development projects. These formal discussions between Muhammad Al Jasser and Kristalina Georgieva were centered on aligning international financial support with the specific national development priorities of Benin. The collaboration between the Islamic Development Bank Group and the International Monetary Fund serves to coordinate regional economic assistance programs.
Muhammad Al Jasser also held a bilateral meeting with Hugues Oscar Lokossou, minister delegate to Benin’s minister of economy and finance, on the sidelines of the same 2026 World Bank Group and IMF Annual Meetings. During this session, Muhammad Al Jasser and Hugues Oscar Lokossou reviewed the implementation timelines for ongoing institutional cooperation. These sessions served to solidify the partnership between the financial institution and the West African nation. The agreements reflect an expanded scope of development support from the IsDB Group in Benin, marking a significant milestone in the ongoing engagement between the two parties.
Infrastructure and Agricultural Financing
The Godomey–Ouidah–Hillacondji road widening and upgrading project serves as a key component of the expanded development support. This infrastructure initiative carries a total cost of €576.06 million, which equates to $643.87 million. The Islamic Development Bank Group is providing €306.89 million in financing to support the project's completion. The project aims to improve the transportation network, facilitating better connectivity for the country. By focusing on the Godomey–Ouidah–Hillacondji corridor, the Islamic Development Bank Group intends to strengthen the logistics framework necessary for regional trade. The financial commitment from the Islamic Development Bank Group represents a substantial portion of the total investment required for the completion of these road works.
Agricultural development in Benin also receives backing through the Sustainable Intensification of Legume-Based Agricultural Systems project. This specific program requires a total investment of €20.70 million. The Islamic Development Bank Group contributes €19.17 million toward these agricultural objectives. The Sustainable Intensification of Legume-Based Agricultural Systems project is designed to enhance local agricultural output and improve food security outcomes. By investing in these systems, the Islamic Development Bank Group supports the modernization of farming practices within Benin. The allocation of €19.17 million by the Islamic Development Bank Group shows the organization's commitment to fostering sustainable growth in the nation’s primary economic sectors. The formalization of these agreements during the 2026 World Bank Group and IMF Annual Meetings in Bangkok ensures that both the infrastructure and agricultural projects are positioned to proceed according to their established schedules, with the full backing of the Islamic Development Bank Group.
