IsDB approves more than US $592 million to finance new development projects

Jeddah, Kingdom of Saudi Arabia, 14 November 2016 

The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved US $592.2 million in financing for new development projects in several member countries and some Muslim communities in non-member countries.

The major approvals include:

• US $105 million, for the Fadhili Combined Heat and Power Project (FCHPP), Saudi Arabia

Advertisement

• US $338.5 million, for the High-Speed Train Sets Project, Turkey
• US $74 million, for the Kabul City Ring Road Project, Afghanistan
• US $43.4 million, for the Franco-Arabic Bilingual Education Support Project, Niger
• US $20 million, to help construct the Kulob-Kalai-Khumb Road on the west-east corridor of the country, Tajikistan
• US $10 million, to study measures that prevent any possible outbreaks of  Avian Influenza, Egypt

The Board also approved four grants totaling US $775,000, under the IDB Waqf Fund, for educational projects for Muslim communities in non-member countries in Ethiopia, Ghana, Malawi and Sri Lanka. 

Two technical assistance grants were approved by IsDB’s President:

• US $278,000, to finance IsDB Group’s contribution to the COP22, Morocco
• US $294,000, to build capacity  on Epidemiological Surveillance and Communicable Disease Control in 15 West African countries

The financing was approved at the end of the Board’s 315^th meeting at IsDB headquarters in Jeddah, which took place from  13 to 14 November, 2016.

-Ends-

© Press Release 2016