To promote inclusive growth, climate resilience, and economic opportunity in its member countries, the Islamic Development Bank (IsDB) has sanctioned development financing exceeding US$1.32 billion.
A statement indicated yesterday that the approvals were granted at the 360th Meeting of the IsDB Board of Executive Directors, which took place in Algiers during the 2025 IsDB Annual Meetings
During the meeting led by H.E. Dr. Muhammad Al Jasser, President of IsDB, decisions were made regarding an extensive array of projects related to health, infrastructure, food security, vocational training, and water access.
The bank states that the initiatives demonstrate its dedication to hastening progress on the Sustainable Development Goals (SDGs) and aiding member countries in tackling interrelated development challenges.
H.E. Dr. Muhammad Al Jasser stated, “The endorsement of these strategic projects reaffirms IsDB’s steadfast commitment to funding transformative, high-impact initiatives that promote socio-economic development.”
This funding will contribute to real advancements in relation to the Sustainable Development Goals (SDGs) and the changing priorities of our member nations, from bolstering flood resilience and broadening healthcare access to improving food security and providing young people with essential skills. ”
One of the most noteworthy approvals was for the Climate-Resilient Flood Protection Dams Project in Oman, which has a budget of US$632.16 million and aims to reduce climate risks and protect more than 670,000 individuals by building extensive flood infrastructure.
Human capital development featured prominently, with the board endorsing the EUR 36.39 million Enhancing Vocational Training and Youth Employability Project in Mauritania, which will upgrade training centres and equip young men and women with market-relevant skills.
In Côte d’Ivoire, the EUR 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 further strengthen value addition in the groundnut sector and enhance rural livelihoods.
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