US$1.32 Billion… Islamic Development Bank Supports Inclusive Growth, Climate Resilience
By Marian Tina Conteh
The Islamic Development Bank (IsDB) has approved over US$1.32 billion in development financing to drive inclusive growth, climate resilience, and economic opportunity across its Member Countries. The approvals occurred during the 360th Meeting of the IsDB Board of Executive Directors, held in Algiers during the 2025 IsDB Group Annual Meetings. The event, chaired by H.E. Dr. Muhammad Al Jasser, President of IsDB, saw the Board’s decisions covering a wide range of impactful projects in health, infrastructure, food security, vocational training, and access to water. Among the approvals was the US$632.16 million Climate-Resilient Flood Protection Dams Project in Oman, designed to mitigate climate risks and safeguard over 670,000 people by constructing large-scale flood infrastructure. Other infrastructure approvals included the EUR 212.35 million Douala–Bafoussam Road Rehabilitation Project in Cameroon, which will reduce travel time and improve road safety on a key regional corridor, and the EUR 187.83 million PRISE project in Burkina Faso, which will revitalise 302.8 km of road and 61 km of railway to enhance regional connectivity with Mali, Niger, Ghana, and Côte d’Ivoire. The Bank approved two impactful interventions: a US$2 million project to strengthen the national eyecare system and a EUR 23.12 million water supply project that will provide clean drinking water to over 6,000 households in the Kara region. Human capital development featured prominently, with the Board endorsing the EUR 36.39 million Enhancing Vocational Training and Youth Employability Project in Mauritania. This project will upgrade training centres and equip young men and women with market-relevant skills. In Côte d’Ivoire, the EU 104.20 million Rice Value Chain Development Project will reduce rice import dependency and increase farmer incomes, particularly for women and youth. In The Gambia, the Bank approved US$3 million in supplementary financing to strengthen value addition in the groundnut sector further and enhance rural livelihoods. These initiatives reflect the Bank’s commitment to accelerating the Sustainable Development Goals (SDGs) and supporting Member Countries as they address overlapping development challenges. During the official opening ceremony, which took place on May 20, 2025, the president of the Islamic Bank, H.E. Dr. Muhammad Al Jasser, stated that in 2024, disbursements on projects exceeded US$9 billion, representing about 70% of the approvals, further demonstrating the IsDB Group’s keenness to turn commitments into real achievements. As part of the Bank’s focus on critical sectors, $1.5 billion was allocated to support the transport sector, given its pivotal role in stimulating growth and facilitating regional connectivity. “We have also paid close attention to food security, with nearly US$2 billion allocated to the agriculture sector in 2024. “The energy sector received US$918 million in financing to help build sustainable and integrated energy systems,” he added. H.E. Dr. Muhammad Al Jasser further stated that the IsDB’s financial performance recorded strong results, reflecting the robustness of its strategy and diversified portfolio despite the challenging global landscape.
