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RIYADH: The Islamic Development Bank approved $938 million in development financing for projects covering energy, agriculture, and health across six member countries.\u00a0<\/p>\n
Transport and water and sanitation developments will also benefit from the funding, which was signed off at a meeting of the IsDB Board of Executive Directors in Jeddah, chaired by IsDB President Muhammad Al-Jasser, according to a statement.\u00a0<\/p>\n
The largest funding allocations will be going to Uzbekistan and Tunisia, with Nigeria, Pakistan, Syria and the Kyrgyz Republic also benefiting.<\/p>\n
The approvals come after IsDB Group net approvals rose 20.2 percent to $15.8 billion in 2025, from $13.1 billion a year earlier. At the IsDB level, Ordinary Capital Resources approvals reached $5.7 billion, with health accounting for 16.1 percent, up from 3.7 percent in 2024.\u00a0<\/p>\n
Al-Jasser said the projects reflect the bank\u2019s approach of combining strategic financing, partnerships and country-led priorities to deliver development impact.\u00a0<\/p>\n
In a statement, the bank said: \u201cThe approvals highlight IsDB\u2019s ongoing commitment to turning development goals into tangible impact \u2014 lighting homes with cleaner energy, helping farmers cultivate more productive and resilient livelihoods, safeguarding children from preventable diseases, improving road connectivity, and expanding access to safe water and sanitation in rural areas.\u201d \u00a0<\/p>\n
Energy and transport <\/strong><\/p>\n Uzbekistan receives the largest share of dollar-denominated funding. The board approved $115 million for the Kungrad Wind Power and Battery Storage Project, a clean-energy investment intended to boost private wind capacity and meet rising demand.\u00a0<\/p>\n A further $202.15 million was approved for the Agriculture Mechanization Development Project, which seeks to expand access to modern, efficient and climate-smart agricultural solutions. \u00a0<\/p>\n Tunisia secured \u20ac335.49 million ($380.6 million) for the Highway Network Extension Project to the El Kef and Jendouba regions. <\/p>\n The project is designed to improve connectivity, support economic integration and regional development, strengthen mobility and social cohesion, and improve road safety and transport infrastructure.<\/p>\n The board also approved a $2.92 million grant for the road transport sector in Syria. <\/p>\n The funding is intended to strengthen institutional credibility, build public confidence, support stabilization efforts and contribute to economic recovery by improving mobility, services and reconstruction. \u00a0<\/p>\n Health and water\u00a0<\/strong><\/p>\n Pakistan was allocated $100 million for the Polio Eradication Phase V Project. <\/p>\n The funding will support efforts to eradicate wild poliovirus and all circulating vaccine-derived polioviruses and strengthen the country\u2019s path toward post-polio certification by the end of 2029.\u00a0<\/p>\n In the Kyrgyz Republic, $70.70 million will finance Phase 2 of the Improvement of Water Supply and Sanitation in Jalalabad Region Project. <\/p>\n The initiative aims to expand equitable access to safe, reliable and climate-resilient drinking water and sanitation services in rural areas. \u00a0<\/p>\n Nigeria will receive $60.67 million for the Katsina State Integrated Agricultural Development Hubs Project, which aims to increase farmers\u2019 incomes and resilience by improving agricultural productivity and strengthening their ability to withstand climate and market shocks. \u00a0<\/p>\n<\/div>\n