IDBG OPERATIONS AT A GLANCE Q Update

Transcription

1 ISLAMIC DEVELOPMENT BANK GROUP IDBG OPERATIONS AT A GLANCE Q Update ABDINASIR MOHAMUD NUR MAY, 2018

2 Preamble IDB GROUP OPERATIONS AT A GLANCE 1 Q Access to timely, relevant and accurate quality data is essential in assessing socio economic development and the impact of interventions in IDB Group Member Countries. In this context, the Economic Research and Institutional Learning Department (ERIL) initiated the Open Data Initiative to make quality data easily accessible to all who desire it. The Open Data Initiative is intended to help transform the Islamic Development Bank Group (IDB Group) into a knowledge-based institution by providing quality assured data to support knowledge generation, dissemination, and transfer. It provides an opportunity for internal and external data users to access operational data, which covers IDB Group approvals since inception organized by Mode of Financing, Entity, Source of Funds, Country and Sectors. Member countries are clustered into four groups: Middle East and North Africa (MENA) 2, Asia and Latin America (ALA) 3, Europe and Central Asia (ECA) 4 and Sub-Saharan Africa (SSA) 5 based on internal classification. The IDB Group Operational Data is released quarterly based on the Gregorian calendar; and is also available in the Hijra year for internal purposes. The snapshot of the IDB Group operations is given below. 1. IDB Group Net Approvals In response to the increasing development needs of its Member Countries, approvals have been on the increase. Overall, since inception, total IDB Group Net Approvals, reached US$130.7 billion by the end of Q In terms f decade performance, Net Approvals increased significantly from US$4.8 billion in the first decade ( ) to US $83.7 billion in the latest decade (2008-Q1-2018). This impressive performance was mainly due to the Bank s strategic decision to scale up its operations to help member countries cope with the effect of the global financial turbulences. 1. The Bank encourages the use and distribution of the data provided that clear attribution is given to the original source. 2. MENA-18 includes Algeria, Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Syria, Tunisia, UAE and Yemen. 3. ALA-9 includes Afghanistan, Bangladesh, Brunei, Guyana, Indonesia, Malaysia, Maldives, Pakistan and Suriname. 4. ECA-8 includes Albania, Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkey, Turkmenistan and Uzbekistan. 5. SSA-22 includes Benin, Burkina Faso, Cameroon, Chad, Comoros, Cote d Ivoire, Djibouti, Gabon, Gambia, Guinea, Guinea Bissau, Mali, Mauritania, Mozambique, Niger, Nigeria, Senegal, Sierra Leone, Somalia, Sudan, Togo, and Uganda. 2

3 2. Approvals by Region At the regional level, out of the total financing of US$130.7 billion since inception, US$48.5 billion went to MENA-18 region, followed by ALA-9 (US$38.7 billion); SSA-22 (US$17.1billion) and ECA-8 (US$18.9 billion) (Figure 2). Reflecting the diverse developing priorities in the regions, it is not surprising that the majority of the Net Approvals for SSA-22 and ECA-8 were in the Transport Sector, whereas, for MENA- 18 and ALA-9, they were in the Energy Sector. Country-wise, the top-5 beneficiaries of IDB Group financing are Bangladesh (15.3 percent), followed by Egypt (8.9 percent), Pakistan (8.9 percent), Turkey (8.5 percent) and Morocco (5.1 percent). The total financing for these five countries represent about 46.7 percent of total IDB group net approvals. Therefore, IBDG may need to monitor the socioeconomic changes in these five major beneficiary countries. It is clear that any economic turbulence in these countries will have a significant effect on IDBG operations due to the high project concentration. 3

4 3. IDB Group Net Approvals by Sector In terms of sectoral breakdown of the Group Net Approvals, Energy and Finance sectors accounted for the largest shares of US$43.6 billion and US$15.7 billion respectively, followed by Transportation sector at US$12.4 billion, and Agriculture US$11.3 billion. This sectoral distribution shows that the IDB Group projects mainly focused on Infrastructure and Finance sectors in its Member Countries (Figure 3). From the perspective of IDB Group modes of financing, the most frequently used are Istisna a and Leasing for project financing, while Murabaha is the only mode used for trade financing. 4. IDB Group Net Approvals by Source of Financing The main sources of the IDB Group Net Approvals are IDB Ordinary Capital Resources (IDB-OCR), Islamic Corporation for the Development of the Private Sector (ICD) and International Islamic Trade Finance Corporation (ITFC). The IDB-OCR accounted for 40.5 percent of the cumulative Group Net Approvals, followed by ITFC (30.3 percent) and ICD (3.9 percent). The 4

5 remaining 24.8 percent are coming from ICD managed fund (1.8%), Awqaf Property Investment Fund (0.3%), Special Assistance Operations (0.6%) and closed funds (22.6%). 5. IDB Group Projects for Non- Member Countries The mission and outreach of the IDB Group is beyond its member countries. As part of its mandate, the IDBG also fosters socioeconomic development of Muslim Communities in Non-Member Countries. This has largely been in the Education and Health sectors. The total amount approved by the Bank for the Muslim Communities in Non-Member Countries as the end of Q stood at US$754.5 million for 1575 projects. Muslim Communities in 86 Non-Member Countries from five Continents benefited from the Bank Group s Special Assistance Programs and ordinary financing operations. Europe (US$233.7 million) and Africa (US$218.4 million) were the largest beneficiaries of financing in non-member countries followed by Asia (US$109.5 million), the Americas (US$66.0 million), and Oceania (US$19.2 million). 6. ICIEC Operations The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development (IDB) Group. Its mandate is to facilitate and promote trade and investment among IDB Member 5

6 Countries and the world through Shariah compliant risk mitigation tools. ICIEC Commulative Insurance Approvals increased from US$2.63 million in 1996 to US$3,492.2 million in 2017, and Business Insured increased from US$0.15 million to US$7,527.2 million in the same period. Since inception ICIEC operations have grown, with rapid growth since the early (2000 s. The Insurance Approvals growth from 2007 onwards averaged at 14.5 percent, while the annual growth of Business Insured averaged at 27.6 percent in the same period. However, both Business Insured and Insurance Approvals slightly declined in 2017 due to low commodity prices in the Member Countries that affected the global trade. The overall impressive growth of ICIEC operations started right after the 2008 financial crisis where many companies decided to mitigate the risk of their trade and investment. ICIEC operations are not limited to IDB Member Countries with approximately one third (US$12,644.7 million) of Insurance Approvals of US$37,946.8 million from inception for Non- Member Countries (Fig.7). Similarly, approximately 25% (US$11,506.3 million) of the US$45,458.6 million of total Business Insured went to Non- Member Countries (Fig.8). For Excel Tables: IDB%20Group%20Data/CountryApprovals_Main.htm 6

7 Annex 1: CUMMULATIVE IDB GROUP OPERATIONS BY MAJOR MODES OF FINANCING (1) (01 JANUARY-1976 TO 31 MARCH-2018) Project Financing Technical Assistance (TA) Trade Financing Special Assistance Operations Grand Total (2) Country No. IDM USDM No. IDM USDM No. IDM USDM No. IDM USDM No. IDM USDM Afghanistan Albania Algeria , , , ,489.4 Azerbaijan , ,129.1 Bahrain 55 1, , , ,871.3 Bangladesh 93 1, , , , , ,968.1 Benin Brunei Burkina Faso , , ,054.9 Cameroon , , ,627.0 Chad Comoros Côte d'ivoire , , ,796.5 Djibouti Egypt 77 1, , , , , ,630.3 Gabon Gambia Guinea Guinea-Bissau Guyana Indonesia 103 2, , , , , ,026.9 Iran 77 2, , , , , ,883.7 Iraq Jordan , , , ,536.2 Kazakhstan , , ,020.6 Kuwait , ,354.0 Kyrgyz Republic Lebanon 67 1, , , ,707.8 Libya Malaysia ,083.8 Maldives Mali , , ,542.6 Mauritania ,404.0 Morocco 66 1, , , , , ,701.3 Mozambique Niger Nigeria ,139.6 Oman 35 1, , , ,033.2 Pakistan 73 1, , , , , ,690.2 Palestine Qatar Saudi Arabia 82 1, , , , , ,845.6 Senegal 105 1, , , ,060.7 Sierra Leone Somalia Sudan , , ,590.3 Suriname Syria Tajikistan Togo Tunisia 59 1, , , , , ,190.3 Turkey 80 2, , , , , ,121.1 Turkmenistan 14 1, , , ,452.0 U.A.E ,016.3 Uganda Uzbekistan , , ,796.1 Yemen ,015.2 NON-MCs , , Regional ,445.5 Special Net Approval 2,570 39, , , ,677 50, , , ,270 90, ,678.0 IDB-57 2,525 38, , ,662 50, , ,649 89, ,490.8 Of Which: IDB-Sub-Saharan Africa-22 1,089 10, , , , ,149 15, ,322.9 IDB-Middle E & N Africa , , ,279 18, , ,488 33, ,548.8 IDB Asia & Latin America , , , , ,164 26, ,712.8 IDB Europe & Central Asia ,993 10, ,144 8, ,179 18,906 IDB-LDMC-25 1,220 10, , , , ,706 27, ,759.7 IDB-Non-LDMC-32 1,305 27, , ,067 33, , ,943 62, ,731.1 IDB-Fuel-Exporters , , , , ,734 20, ,033.9 IDB-Non-Fuel-Exporters-39 1,928 27, , ,877 41, , ,915 69, ,456.9 Gross Approval 3,285 47, , , ,270 55, , , , , ,497.9 (1) Cut-off date for data reported in this table was 31 March 2018 (14 Rajab 1439) (2) Figures are net cancellation (unless otherwise specified) and include ICD, UIF, IBP and APIF 1 Prepared by: Economic Research and Institutional Learning Department, Country Programs Complex Date of Issue: May 10, 2018

8 Annex 2: OCR-IDB Share Capital as of December 31, 2017 Authorized Capital : ID 100 Billion. S/N Shareholder Date Joined (dd/mm/yyyy) Subscribed Capital IDM Paid-up Capital IDM 1 Afghanistan Albania Algeria , Azerbaijan Bahrain Bangladesh Benin Brunei Burkina Faso Cameron Chad Comoros Cote D' Ivoire Djibouti Egypt , Gabon Gambia Guinea Guinea Bissau Guyana Indonesia , Iran , Iraq Jordan Kazakhstan Kuwait , Kyrgyz Lebanon Libya , Malaysia Maldives Mali Mauritania Morocco Mozambique Niger Nigeria , Oman Pakistan , Palestine Qatar , Saudi Arabia , , Senegal Sierra Leon Somalia Sudan Surinam Syria Tajikistan Togo Tunisia Turkey , Turkmenistan U.A.E , Uganda Uzbekistan Yemen Uncommited Total 50, ,378.6

9 Annex 3: ICIEC Share Capital as of September 30, 2017 Authorized Capital : ID 400 Million. S/N Shareholder Date Joined (dd/mm/yyyy) Subscribed Capital ID Paid-in Capital ID 1 Afghanistan 2 Albania 30/01/ , ,128 3 Algeria 23/04/1996 1,000, ,280 4 Azerbaijan 5 Bahrain 06/03/1999 3,625,000 1,890,271 6 Bangladesh 11/05/ , ,531 7 Benin 08/08/ , ,719 8 Brunei 15/09/ , ,958 9 Burkina Faso 26/03/ , , Cameroon 18/11/ , , Chad 19/02/ , , Comoros 05/09/ ,000 50, Côte D'Ivoire 10/01/ ,000 57, Djibouti 08/08/ ,000 52, Egypt 30/12/1992 6,703,000 3,351, Gabon 01/04/ ,000 56, Gambia 01/03/ , , Guinea 22/07/ , , Guinea-Bissau 20 Guyana 21 Indonesia 24/04/ , , Iran 19/12/ ,000,000 5,002, Iraq 08/09/ , , Jordan 21/04/ , , Kazakhstan 02/01/2003 6,500,000 3,386, Kuwait 13/07/1994 7,500,000 3,750, Kyrgyz Republic 28 Lebanon 17/08/ , , Libya 06/02/1993 1,500, , Malaysia 01/08/1994 2,740,000 1,369, Maldives 32 Mali 04/09/ , , Mauritania 18/07/ , , Morocco 08/02/1997 5,000,000 2,500, Mozambique 28/12/ ,000 61, Niger 04/03/ ,000 66, Nigeria 21/03/2007 2,187,000 1,093, Oman 02/09/ , , Pakistan 08/05/1993 2,500,000 1,253, Palestine 19/07/ ,000 62, Qatar 24/04/2000 5,000, , Saudi Arabia 03/12/ ,000,000 30,018, Senegal 19/09/ , , Sierra Leone 45 Somalia 46 Sudan 10/07/ , , Suriname 48 Syria 01/02/ , , Tajikistan 50 Togo 51 Tunisia 22/02/1993 1,000, , Turkey 30/07/1997 5,000,000 2,500, Turkmenistan 54 U.A.E. 11/07/2000 7,500,000 3,737, Uganda 04/02/ , , Uzbekistan 57 Yemen 30/12/1996 1,000, ,225 Sub-total 137,935,000 65,725,883 Islamic Development Bank 150,000,000 75,002,027 G. total 287,935, ,727,910

10 Annex 4: ICD Share Capital as of April 30, 2018 Authorized Capital: US$ 4 billion S/N Shareholder Date Joined (dd/mm/yyyy) Subscribed Capital (US$) Paid-in Capital (US$) 1 Afghanistan 30/05/ , ,800 2 Albania 06/04/ ,471 76,441 3 Algeria 11/03/ ,121,507 8,155,406 4 Azerbaijan 11/03/1999 1,092,485 1,092,485 5 Bahrain 11/03/1999 1,028,666 1,050,669 6 Bangladesh 11/06/ ,141,931 6,685,655 7 Benin 08/02/ , ,732 8 Brunei 07/07/2000 1,099, ,086 9 Burkina Faso 18/06/2000 2,250,717 1,700, Cameroon 29/06/2000 1,861, , Chad 08/06/ , Comoros 06/04/ , Côte D'Ivoire 06/03/2009 3,157,642 1,708, Djibouti 27/09/ , , Egypt 11/03/ ,186,113 15,817, Gabon 26/01/ , , Gambia 11/03/ , , Guinea 11/03/1999 1,099, , Guinea-Bissau 11/02/ , , Guyana 21 Indonesia 11/03/ ,242,649 13,337, Iran 11/03/ ,604,864 29,214, Iraq 07/09/2002 2,687,513 2,687, Jordan 11/03/1999 3,554,482 2,607, Kazakhstan 29/02/2000 1,125,255 1,125, Kuwait 11/03/ ,532,800 40,503, Kyrgyz Republic 15/05/ ,775 32, Lebanon 04/09/ , , Libya 11/07/ ,229,429 39,644, Malaysia 06/02/ ,237,929 10,440, Maldives 06/11/ , , Mali 26/01/ , , Mauritania 11/03/ , , Morocco 11/03/1999 1,037,861 1,037, Mozambique 23/07/ , , Niger 11/03/ , , Nigeria 22/05/ ,066,479 19,848, Oman 11/03/ , Pakistan 09/02/ ,121,507 8,075, Palestine 11/03/1999 1,213, , Qatar 11/03/ ,810,536 21,810, Saudi Arabia 11/03/ ,493, ,858, Senegal 11/03/1999 2,179, , Sierra Leone 01/01/2000 2,449, , Somalia 22/05/ , Sudan 11/03/1999 2,952,096 1,343, Suriname 11/03/ , , Syria 02/02/ , , Tajikistan 07/07/ ,273 52, Togo 08/08/ , Tunisia 11/03/1999 1,782,037 1,299, Turkey 09/03/ ,528,889 16,517, Turkmenistan 22/12/ ,984 65, U.A.E. 11/03/ ,458,023 29,549, Uganda 06/03/ , , Uzbekistan 14/09/ , , Yemen 06/10/2000 1,037,861 1,037,861 Sub-total 904,626, ,236,940 1 Islamic Development Bank 659,678, ,681,958 2 MC's Financial Institutions 192,930, ,670,000 G. total 1,757,234,664 1,219,588,898

11 Annex 5: ITFC Share Capital as of March 31, 2018 Authorized Capital: US$ 3 billion S/N Shareholder Date Joined (dd/mm/yyyy) Subscribed Capital US$ Million Paid-up Capital US$ Million 1 Afghanistan 2 Albania 3 Algeria 30/05/ Azerbaijan 22/05/ Bahrain 30/05/ Bangladesh 30/05/ Benin 24/02/ Brunei Darussalam 30/05/ Burkina Faso 30/05/ Cameroon 30/05/ Chad 12 Comoros 13 Cote D Ivoire 24/02/ Djibouti 24/02/ Egypt 30/05/ Gabon 30/05/ Gambia 24/02/ Guinea 19 Guinea-Bissau 20 Guyana 21 Indonesia 30/05/ Iran 30/05/ Iraq 04/06/ Jordan 30/05/ Kazakhstan 26 Kuwait 30/05/ Kyrgyz Republic 28 Lebanon 30/05/ Libya 30/05/ Malaysia 30/05/ Maldives 32 Mali 33 Mauritania 24/02/ Morocco 30/05/ Mozambique 24/02/ Niger 24/02/ Nigeria 30/05/ Oman 39 Pakistan 30/05/ Palestine 30/05/ Qatar 24/02/ Saudi Arabia 30/05/ Senegal 30/05/ Sierra Leone 45 Somalia 30/05/ Sudan 30/05/ Suriname* 18/05/ Syria 30/05/ Tajikistan 50 Togo 51 Tunisia 30/05/ Turkey 30/05/ Turkmenistan 54 U.A.E. 30/05/ Uganda 30/05/ Uzbekistan 57 Yemen 24/02/ Sub-Total Islamic Development Bank 30/05/ MC's Financial Institutions Total *Suriname subscription is not called yet