The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved, at its 352nd meeting in Jeddah, to finance vital projects aimed at improving the living conditions of the population in member countries and speeding up attaining the Sustainable Development Goals (SDGs) with a sum of $800 million.
IsDB President Dr. Mohammed Al-Jasser said that the projects approved in key sectors such as energy, education, health and transport will contribute to ameliorating the socio-economic challenges faced by the population in IsDB member countries and will accelerate the pace of achieving significant SDGs targets.
He added that the IsDB had made an emergency intervention to support the communities affected by the conflict in Sudan, noting that the contributions of the IsDB and the Islamic Solidarity Fund for Development (ISFD) are a multi-sectoral emergency response and provide life-saving support to approximately 125,000 people affected by the sudden outbreak of conflict in Sudan.
IsDB contributes 182.26 million euros to the Republic of Côte d'Ivoire and 40.25 million euros to the Republic of Senegal to improve transportation; allocates $40 million and 48.05 million euros to finance two projects aimed at improving the water, sanitation and health sectors in the Republic of Guinea; gives 46.57 million euros to the Islamic Republic of Mauritania and $19.8 million to the Republic of Mozambique to improve access to quality education in these two countries.
Additionally, BED approved $200 million to the Kingdom of Bahrain and 61.9 million euros to the Federal Republic of Nigeria to boost electricity transmission and innovation in the energy and information technology sectors; 128.17 million euros to the Togolese Republic to improve infrastructure; $1.5 million to the Republic of Sudan to support the people most affected by the conflict; and $5.46 IsDB and ISFD contribution to reduce food insecurity in conflict-affected member countries through the Food Security Response Program.
Al-Jasser described the projects approved by the BED as transformative, saying that they "will significantly impact the attainment of the SDGs' objectives".
Source: Saudi Press Agency