The Board of Executive Directors of the Islamic Development Bank has approved $789.4 million to finance development projects in 11 member countries (Turkey, Egypt, Morocco, Uganda, Pakistan, Burkina Faso, Mozambique, Yemen, Togo, Jordan and Mali) as well as education projects for Muslim communities in non-member countries (Kenya, Nepal and Congo).
The IDB approved $220 million for the Turkey Development Bank programme to finance renewable energy projects; Egypt received approval of $200 million for the expansion of Damietta West Power Plant, while $140.20 million was approved for the reinforcement of water supply systems in Agadir and Chtouka Ait Baha areas of Morocco.
Uganda will get $120 million to upgrade road projects; the government of Pakistan received approval of $35 million for the financing of the reconstruction of schools destroyed by floods and $19.8 million will go to a water supply project in Ouahigouya, Burkina Faso.
$15 million was approved for an Integrated Rural Development Project in Yemen. The rest of the approvals include $8 million for Niassa electrification project in Mozambique, $7 million for a project on access to energy for rural communities in Togo and $23.7 million to the government of Mali to address food insecurity in the country. A grant of $200,000 was extended to Jordan for building the capacity of rural producer organisations under the healthy villages programme.
CPI FINANCIAL
by Robin Amlôt
