Development Effectiveness
PROGRESS BEYOND BORDERS: ANNUAL DEVELOPMENT EFFECTIVENESS REPORT 2024
As the Islamic Corporation for the Development of the Private Sector (ICD) celebrates its 25th anniversary, the 2024 Annual Development Effectiveness Report (ADER) highlights the organization's transformative role in fostering inclusive economic growth, financial empowerment, and sustainability across its Member Countries. This milestone edition showcases ICD's journey of impact and innovation since its inception in 1999.
25 Years of Development Impact: Over the years, ICD has provided nearly USD 7.58 billion in cumulative approvals and disbursed over USD 5.06 billion, reinforcing its commitment to economic progress. In 2024, ICD approved 24 total interventions worth $663.0 million with disbursements totaling $526.76 million.
KEY ACHIEVEMENTS IN 2024
Economic & Financial Contributions
- SME Support: 1,529 SMEs received USD 353 million in financing
- Women-led Businesses: 472 women-led/managed SMEs funded
- Financial Inclusion: 126,734 new clients gained access to Islamic finance
- Government Revenue: USD 215 million generated through ICD's initiatives
Employment & Social Impact
- Jobs Supported: 189,482 total jobs (57,205 for women)
- New Jobs Created: 23,409 (including 7,903 for women)
- Female Leadership: 1,985 women in senior management positions
- Community Development: USD 19.97 million invested
Economic Growth
- Domestic Purchases: USD 940 million
- Export Sales: USD 779 million
- Energy Production: 3.7 billion kWh
- Energy Capacity: 3,529 MW financed
Social Development
- Healthcare: 2,280,653 patients received services
- Education: 46,672 students enrolled
- Housing: 2,710 housing units developed
- Agriculture: 25,331 farmers reached
25 YEARS OF DEVELOPMENT IMPACT
Since its inception in 1999, ICD has been at the forefront of fostering economic growth through private sector development in its Member Countries. The journey over the past 25 years has been marked by transformative partnerships, innovative financing solutions, and a steadfast commitment to sustainable development.
575+
Interventions Financed
$7.58B
Total Approvals
$5.06B
Total Disbursements
56
Member Countries
SUCCESS STORIES: TRANSFORMING ECONOMIES
SDG ALIGNMENT
SUPPORTING SUSTAINABLE DEVELOPMENT GOALS
ICD's operations align with multiple SDGs, particularly focusing on goals 1, 2, 3, 4, 5, 7, 8, 9, 13, and 17. Through strategic investments and partnerships, we contribute to global efforts for sustainable and inclusive development.
THE ROAD AHEAD
As ICD celebrates 25 years of achievement, it looks to the future with a renewed commitment to scaling its development impact. The organization will focus on:
Expanding Financial Access
Innovative financing solutions for underserved markets and SMEs
Fostering Innovation
Technology-driven solutions for development challenges
Addressing Climate Change
Green financing for sustainable infrastructure and resilience
Strategic Partnerships
Deeper collaboration for greater development impact
The next phase of development will require innovative financing mechanisms and stronger private sector engagement to meet the evolving needs of global economic transformation. ICD remains committed to its mission of fostering shared prosperity across its Member Countries, building a future that is inclusive, sustainable, and resilient.
EXPLORE ICD'S 25-YEAR JOURNEY
Discover how ICD has been driving private sector development and creating meaningful impact since 1999
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