Members of Board of Executive Directors of Islamic Development Bank (IsDB) have approved a substantial number of projects amounting to about US$1.27 billion across 12 member countries in Asia, Africa and MENA.
At their 362nd meeting on September 29, chaired by IsDB President, H.E. Dr. Muhammad Al Jasser, the board members also approved a multi-country programme targeting sustainable agriculture and food security, education, renewable energy, health, ICT, transport, water resources, and governance reforms.
According to the approvals, Pakistan’s transport sector is to be reinforced with a US$475 million financing for the M-6 motorway, ensuring efficient connectivity across a critical corridor.
In Uzbekistan, a US$192 million financing from IsDB will upgrade the 4R40 road to enhance connectivity, catalyse investment, and unlock the tourism potential of the Jizzakh region.
The IsDB president said Bangladesh would receive US$143.28 million of funding for the Sonagazi 220 MW Solar Power and Livelihoods Improvement Project, which will expand renewable generation capacity and stimulate economic activity in surrounding communities.
Türkiye will also benefit from EUR140 million in IsDB development financing for the Antalya–Alanya motorway, easing congestion, improving safety, and lowering emissions.
The IsDB leader stated that in Nigeria, the bank will provide US$50 million to strengthen agricultural resilience in Yobe State, supporting market-oriented and climate-resilient value chains that raise rural incomes.
Uganda is to receive US$36.80 million to establish regional oncology centres to reduce cancer-related mortality and extend quality healthcare services, complemented by EUR73.33 million for a second phase of the Local Economic Growth Support initiative to transform rural livelihoods and strengthen institutions.
In Senegal, the approved allocation of EUR36.51 million from IsDB will fund a nationally owned school meals programme designed to improve student nutrition, strengthen institutional capacity, and connect local smallholders to reliable markets.
IsDB stated that Republic of Guinea would see the allocation of EUR32 million to finance the completion of the Boké–Québo road to stimulate economic activities in key agricultural zones.
In Tunisia, IsDB will avail a EUR30 million financing to strengthen the country’s water supply systems as additional financing for dams and water transfer infrastructure, securing drinking and irrigation water for multiple regions.
Sierra Leone will see the allocation of US$30.55 million that will boost the cassava value chain, improving productivity, processing, and value addition to create new opportunities for women, youth, and persons with disabilities.
IsDB added that the Comoros would advance its e-government transformation with EUR6.30 million to build resilient ICT infrastructure, enhance service delivery, and equip citizens with digital skills.
Mauritania will advance transparency and institutional reform with US$1.77 million for the second phase of its public procurement capacity-building project.
Beyond individual countries, IsDB stated that it had endorsed US$7 million for the Tadamon 2.0, a community empowerment programme that aims to reach vulnerable populations across member countries with digital literacy, healthcare, and Islamic finance while strengthening the capacity of civil society organisations.
Al Jasser stated at the meeting, “These approvals demonstrate the Bank’s commitment to delivering tangible development impact by supporting inclusive growth, cleaner energy, resilient infrastructure, better health and education outcomes, stronger governance, and sustainable livelihoods.”
Sunday Okobi
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