The Islamic Development Bank (IsDB) has unveiled a major new funding package, with its Board of Executive Directors approving approximately $1.365 billion for 14 development projects across 12 member countries. The approvals, decided during the 363rd Board meeting chaired by IsDB President H.E. Dr. Muhammad Al Jasser, target critical sectors including renewable energy, transport corridors, water security, agriculture, health, and education.
The financing is strategically aimed at bolstering economic resilience, improving essential services, and advancing progress toward the Sustainable Development Goals (SDGs). “These significant approvals demonstrate the Bank’s steadfast support to its member countries in closing infrastructure gaps, expanding access to essential social services, accelerating the energy transition, and strengthening community development,” a bank statement affirmed.
Transport and Trade Corriders Receive Major Boost
Key transport infrastructure projects form a cornerstone of the new commitments. Benin is set to receive EUR 306.89 million to expand and upgrade the Godomey–Ouidah–Hillacondji road, a strategic section of the vital Abidjan–Lagos corridor. Côte d’Ivoire will benefit from EUR 200 million to upgrade the Tafiré–Ferkessédougou section of the A3 highway, enhancing a key trade route. Urban mobility projects were also approved, including $180.72 million for the King Faisal Highway Upgrade in Manama, Bahrain, and $13.50 million for road improvements in Lebanon’s Bcharre region.
Advancing the Energy Transition and Water Security
In the energy sector, Uzbekistan will receive $110 million for two utility-scale solar photovoltaic and battery storage projects in Samarkand. A cross-border initiative will see Mauritania granted EUR 55.19 million for the Mauritania–Mali Electricity Interconnection and related solar plants, aiming to supply cleaner, more reliable power.
Addressing water stress, Morocco secured EUR 188.82 million for a project to construct dams and transfer surplus water from northern to water-stressed southern regions. Sierra Leone was allocated EUR 25.93 million to improve water and sanitation services in Greater Freetown and restore watersheds. For agricultural resilience, Cameroon will receive EUR 36.66 million for a sustainable irrigation project, while Jordan’s HOPE program secured $11.25 million to support rural employment and agricultural productivity.
Investing in Health, Education, and Human Capital
The approvals include targeted investments in social infrastructure. Mauritania is allocated EUR 61.41 million to establish a 440-bed Referral Hospital for Maternal, Neonatal and Child Health in Nouakchott. In education, Tajikistan will receive $13.95 million to develop tourism and hospitality education, with a focus on Halal tourism. Pakistan was approved for $10 million in funding from the Islamic Solidarity Fund for Development (ISFD) to support an Out-of-School Children Project in Azad Jammu and Kashmir.
President Al Jasser emphasized the broader significance of the projects, stating they are designed to “strengthen economic resilience, improve access to essential services and advance progress toward the attainment of the Sustainable Development Goals.”
TunisianMonitorOnline (Douha Essaafi)
