Riyadh, Kingdom of Saudi Arabia, 11 November 2023 – The Islamic Development Bank (IsDB) has formalized two financing agreements with Guinea and Burkina Faso during the Saudi-Arab-African Economic Conference held in Riyadh. IsDB President, H.E. Dr. Muhammad Al Jasser, signed the agreements on behalf of the Bank.

Guinea’s Minister of Economy and Finance, H.E. Moussa Cissé, oversaw the signing of the agreement for the Rural Water Supply and Sanitation project in Upper and Middle Guinea, securing a financing of US$ 40 million from IsDB.

The primary aim of this initiative is to elevate the living conditions of rural populations in Guinea, aligning with the government's commitment to ensuring clean water and sanitation for all, in harmony with SDG 6. The project's specific objectives include providing sustainable access to clean drinking water for approximately 915,000 people and ensuring sanitation for around 1,000 households residing in rural areas of the Middle and Upper Guinea regions by 2029.

The second financing agreement was inked with H.E. Abubakar NACANABO, Burkina Faso's Minister of Economy and Finance, for the second phase of the Ouagadougou Peri-Urban Dairy Sector Development Project in Burkina Faso, totaling EUR 22.33 million.

The project's specific goals encompass enhancing dairy farm productivity, structuring the milk value chain and dairy product processing by collecting milk from targeted farms, promoting milk and dairy product consumption through nutritional education among vulnerable groups, and facilitating access to finance.