IsDB approves $1.4bn to accelerate development goals in member countries

Saudi-based lender Islamic Development Bank (IsDB) has approved more than $1.4 billion in funding to advance sustainable development goals across select member countries. 

The development projects will cover food security, health, education, transport, sanitation, and urban development sectors in eight IsBD member states, the lender said in a statement. 

The approvals include 500 million euros to finance a health infrastructure development project in Türkiye to address accessible and resilient healthcare services. Another undertaking to improve municipal services in water and wastewater management as well as transport services in the country has won a financing facility worth 200.20 million euros.

The IsDB will also provide $241.30 million to build five climate-resilient bridges in Bangladesh's Mymensingh division to help reduce vehicle operating costs, travel time, and greenhouse gas emissions.

Nigeria will receive $52.38 million to enhance food security in the Zamfara state and $50 million to improve healthcare infrastructure and medical education in Sokoto State.

Uzbekistan’s health sector will receive $92.98 million to enhance healthcare services in the Kashkadarya region, with an additional $10 million to support an oncology services project.  

A 141.44 million euros financing facility for Togo in West Africa, will support a road project which will improve travel between Ghana, Togo, and Benin. 

The IsDB approved a 36.80 million euros joint facility from IsDB and ISFD to help enhance the capacity and efficiency of the country’s educational system. Furthermore, 35.07 million euros was approved for a Burkina Faso project to improve rainwater drainage, address flooding in the capital and help upgrade public sanitation and healthcare. 

A $30.48 million IsDB approval will help alleviate poverty and enhance food and nutrition security of rural households in Sierra Leone.