Jeddah:The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved a total of $938 million in development financing to support projects across six member countries. The decision was made during the board's 368th meeting, chaired by IsDB President Dr. Muhammad Al Jasser. These funds will be allocated to initiatives in energy, agriculture, health, transport, and water supply and sanitation.
According to Saudi Press Agency, the approved financing is part of IsDB's ongoing efforts to convert development goals into significant impacts. The projects aim to deliver cleaner energy, enhance agricultural productivity, improve public health, boost road connectivity, and increase access to safe water and sanitation, particularly in rural areas.
In Uzbekistan, $115 million will be allocated for the Kungrad Wind Power and Battery Storage Project to enhance wind power capacity. An additional $202.150 million is designated for the Agriculture Mechanization Development Project, targeting modern and climate-smart solutions.
Nigeria will receive $60.67 million for the Katsina State Integrated Agricultural Development Hubs Project, which focuses on increasing farmers' incomes and resilience by enhancing productivity and capacity to handle climate and market challenges.
Pakistan will benefit from $100 million for the Polio Eradication Phase V Project, supporting efforts to eliminate polio and achieve post-polio certification by the end of 2029.
Tunisia is set to receive pound 335.49 million for extending the highway network to the El Kef and Jendouba regions, enhancing economic integration, regional development, and road safety.
A grant of $2.92 million has been approved for Syria to support the road transport sector, aiming to improve mobility, services, and reconstruction as part of broader stabilization efforts.
Lastly, the Kyrgyz Republic will receive $70.70 million for the second phase of the Improvement of Water Supply and Sanitation in Jalalabad Region Project, which seeks to provide equitable access to reliable drinking water and sanitation services.
Dr. Al Jasser highlighted IsDB's dedication to supporting necessary developments through strategic financing and strong partnerships, aligned with country-led priorities to achieve tangible improvements.