Algiers: The Islamic Development Bank Group (IsDB) and Algeria signed a Strategic Cooperation Framework for the period 2025-2027 on Tuesday.

According to Saudi Press Agency, the partnership framework unites IsDB with several key entities, including the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Solidarity Fund (ISF), and the Islamic Development Bank Institute.

This new cooperation aims to support sectors that enhance competitiveness, economic diversification, infrastructure, and private-sector development. It also seeks to strengthen partnerships for human capital development and regional cooperation.

The agreement was signed by Algerian Finance Minister Abdelkrim Bouzred and IsDB President Dr. Muhammad Al Jasser, marking a significant step in fostering economic collaboration and development between Algeria and the Islamic Development Bank Group.