Islamic Development Bank Board of Directors approves $1.4 billion to support development goals in 8 member countries.

The Executive Directors of the Islamic Development Bank have approved over $1.4 billion to support sustainable development goals in 8 member countries during today’s meeting chaired by Dr. Mohammad Al-Jasser, President of the Islamic Development Bank. The approved development projects cover sectors such as food security, health, education, transportation, sanitation, and urban development to contribute to achieving sustainable development goals.

Among the approved projects is a €500 million funding for the “Health Infrastructure Development Project for Disaster Resilience” in Turkey. This project aims to meet the additional need for accessible and resilient healthcare services, building on the bank’s previous initiatives in this sector. Urban development sector in Turkey will also benefit from a €200.20 million financing for the “Municipal Infrastructure for Recovery and Resilience” project, which will enhance municipal services in water and sanitation management, as well as transportation services benefiting approximately 3 million people.

The bank will provide $241.30 million for the construction of five climate-resilient bridges in Mymensingh district, Bangladesh, with the goal of improving residents’ lives by reducing vehicle operating costs, travel time, and greenhouse gas emissions. Nigeria will receive a total funding of $102.38 million, including $52.38 million to enhance food security in Zamfara state, and $50 million to improve healthcare infrastructure and medical education excellence in Sokoto state.

In addition, the Islamic Development Bank’s approvals include $92.98 million for the health sector in Uzbekistan, contributing to the improvement of healthcare services in Kashkadarya region. Furthermore, the board has approved an additional $10 million for the project supporting the development of cancer services in Uzbekistan (Phase II).

The Islamic Development Bank’s €141.44 million financing facility for Togo in West Africa will enhance regional connectivity through supporting the “Rehabilitation of the Border Road for the Economic and Monetary Union of West Africa (CU18) project between Ghana and Benin.” This project will significantly improve travel between Ghana, Togo, and Benin, enhancing economic efficiency, reducing transportation costs, and supporting food security activities.