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

idbThe 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
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.

About Marc Mcilhone

Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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