The concept of making markets work through global value chains requires fresh thinking about globalization and industrialization in a world that is changing rapidly, given what we witness today in terms of shifts in the global economy as well as the pace and breadth of technological advancements. Taking all these challenges into consideration, the Islamic Development Bank (IsDB) has developed its own framework of Making Markets Work for Development through Global Value Chains. This methodology book will enable the Bank to guide its interventions in the highest-impact areas and at the same time foster sustainable and inclusive development for our member countries.
The value chain approach is anchored towards supporting SDG 9: build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation. Although there has been steady progress and improvements in manufacturing output and employment in the world today, the report of the UN Secretary General on progress toward the SDGs in 2017 called for renewed investments to double the industry’s share of GDP by 2030. The Bank’s move in championing value chains in member countries will support this agenda and allow markets to mobilize resources for development.