The Board of Executive Directors of the Islamic Development Bank (IsDB), has approved a new package of $938 million in development financing for six member countries.
The decision came at the Board’s 368th meeting chaired by IsDB President Dr Muhammad Al Jasser, a Saudi Press Agency (SPA) report said.
The money will be used to support transformative projects in energy, agriculture, health, transport, and water supply and sanitation, IsDB said in a statement.
Tangible impact
The approvals highlight IsDB’s ongoing commitment to turning development goals into tangible impact—lighting homes with cleaner energy, helping farmers cultivate more productive and resilient livelihoods, safeguarding children from preventable diseases, improving road connectivity, and expanding access to safe water and sanitation in rural areas.
In the Republic of Uzbekistan, the board approved $115 million for the Kungrad Wind Power and Battery Storage Project, a landmark clean-energy investment to increase private wind power capacity and support the country’s rising energy needs. The board also approved $202.150 million for Uzbekistan’s Agriculture Mechanisation Development Project, which aims to expand access to modern, efficient, and climate-smart agricultural mechanisation solutions.
For Nigeria, the board approved $60.67 million for the Katsina State Integrated Agricultural Development Hubs Project. This initiative aims to boost incomes and resilience among farmers in Katsina State by enhancing agricultural productivity and strengthening farmers’ capacity to withstand climate and market shocks.
In the Islamic Republic of Pakistan, the board approved $100 million for the Polio Eradication Phase V Project. The funding will back Pakistan’s efforts to eradicate wild poliovirus and all circulating vaccine-derived polioviruses, while strengthening the country’s pathway towards achieving post-polio certification by the end of 2029.
Highway Network Extension Project
For Tunisia, the board approved €335.49 million for the Highway Network Extension Project to the El Kef and Jendouba regions. The project will promote economic integration and regional development through improved accessibility and connectivity, strengthen social cohesion by enhancing mobility, and improve road safety and overall transport infrastructure quality.
Additionally, the board approved a $2.92 million grant to support the road transport sector in the Syrian Arab Republic. This grant will bolster institutional credibility, build public confidence, support wider stabilisation efforts, and contribute to economic recovery by improving a vital sector for mobility, services, and reconstruction.
In the Kyrgyz Republic, the board approved $70.70 million for Phase 2 of the Improvement of Water Supply and Sanitation in Jalalabad Region Project. The initiative aims to increase equitable access to safe, reliable, and climate-resilient drinking water and sanitation services in rural Jalalabad.
Commenting on the approvals, Al Jasser reaffirmed IsDB’s steadfast commitment to supporting development that reaches people where it is most needed. The newly approved projects exemplify the IsDB’s development approach, combining strategic financing, strong partnerships, and country-led priorities to deliver tangible impact.—TradeArabia News Service
