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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
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  • 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 315th meeting at IsDB headquarters in Jeddah, which took place from  13 to 14 November, 2016.

-Ends-

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