IsDB approves $1.27bn for multi-country development projects, allocates $50m to boost agriculture in Nigeria

IsDB approves $1.27bn for multi-country development projects, allocates $50m to boost agriculture in Nigeria

Abdullateef Fowewe

The Islamic Development Bank (IsDB) has approved projects worth approximately US$1.27 billion across 12 member countries in Asia, Africa, and the MENA region, targeting sectors including roads, energy, health, agriculture, and governance.

At the 362nd Board of Executive Directors meeting held on September 29 and chaired by IsDB President Dr Muhammad Al Jasser, a broad multi-country programme was also endorsed to promote sustainable agriculture, food security, renewable energy, education, ICT, transport, water resources, and institutional reforms.

Highlights include:

Uzbekistan’s 4R40 road will be upgraded with a US$192 million investment to enhance connectivity and unlock tourism.

Pakistan will receive US$475 million for the M-6 motorway to boost transport connectivity.

Bangladesh is allotted US$143.28 million for the Sonagazi 220 MW Solar Power and Livelihoods Improvement Project aimed at expanding renewable energy.

Türkiye will benefit from EUR140 million financing for the Antalya-Alanya motorway to ease congestion and reduce emissions.

In Nigeria, US$50 million will be dedicated to strengthening agricultural resilience in Yobe State.

This investment focuses on “market-oriented and climate-resilient value chains that raise rural incomes.”

Uganda will receive US$36.80 million to establish regional oncology centers to reduce cancer mortality, alongside EUR73.33 million for rural livelihood and institutional strengthening initiatives.

Senegal’s EUR36.51 million funding will support a national school meals program to “improve student nutrition” and connect smallholder farmers to markets.

Guinea is allocated EUR32 million to complete the Boké-Québo road, stimulating economic activities in vital agricultural zones.

Tunisia’s water supply systems will be enhanced with EUR30 million financing for dam and water transfer infrastructure.

Sierra Leone receives US$30.55 million to boost the cassava value chain, aiming to “create new opportunities for women, youth, and persons with disabilities.”

Comoros will advance e-government with EUR6.30
million to enhance ICT infrastructure and digital skills.

Mauritania will receive US$1.77 million for public procurement capacity-building reforms.

A US$7 million multi-country Tadamon 2.0 programme was also approved to empower vulnerable populations with digital literacy, healthcare, and Islamic finance.

Dr Muhammad Al Jasser said, “These approvals demonstrate the Bank’s commitment to delivering tangible development impact by supporting inclusive growth, cleaner energy, resilient infrastructure, better health and education outcomes, stronger governance, and sustainable livelihoods.”