Riyadh – Mubasher: The board of executive directors of the Islamic Development Bank (IsDB) has approved a total of $1.12 billion for development projects financing in various sectors in nine member countries.
It further greenlighted a $1.79 million grant for a number of other projects, including market access readiness in Yemen and special assistance grants to Muslim communities in three non-member countries, according to a recent press release.
The approvals were announced during the board’s 347th session held on 10 September 2022 at the bank's headquarters in Saudi Arabia’s Jeddah.
The board further considered and approved projects in the key sectors such as food security, health, transport, energy, urban development, education, water, and sanitation, in addition to two other projects under the Public Private Partnership (PPP) modality for Uzbekistan and Uganda.
Moreover, the bank approved sovereign financing of $601.7 million in transport projects in Guyana ($200 million), Uzbekistan ($106.7 million), and Uganda ($295 million). Such projects are expected to enhance access to cutting-edge infrastructure and facilitate access to markets for farmers and traders.
With regard to the health sector, sovereign financing of EUR 205 million was approved to strengthen the National Referral Hospital on Oncology Center in Indonesia.
Additionally, grants worth $1 million were approved to provide market access readiness in key economic trade sectors in Yemen.
To support the educational infrastructural needs of Muslim communities in some non-member countries, a grant package of $785,000 was approved for projects in Zambia, India, and Bosnia.
