IsDB President Discusses Progress of Islamic University of Niger’s Awqaf Project

Jeddah, Kingdom of Saudi Arabia, 5 January 2022 - President of the Islamic Development Bank and Chairman of IsDB Group, H.E. Dr. Mohamed Al Jasser, on Wednesday, met with Ambassador Nasser Al-Zaabi, Chairman of the Permanent Council of the Islamic Solidarity Fund of the Organization of Islamic Cooperation (OIC) and Chairman of the Board of Trustees of the Islamic University in Niger.

Featuring at the discussions was the University’s cooperation with IsDB’s Awqaf Properties Investment Fund (APIF) to which, the OIC’s Islamic Solidarity Fund has made a US$ 15.5 million subscription, as the second-largest subscriber to APIF’s capital.  

The meeting also touched upon the progress in the residential commercial Awqaf complex project of the Islamic University of Niger, which the Islamic Development Bank has agreed to finance with an amount of US$ 15 million through APIF.

The two sides underlined the important social impacts of the project and ways and means to achieve its noble goals and serve the university's students and communities in the region.

The Islamic University of Niger was established in 1986, and currently hosts about 5,200 students from 22 countries, most of whom are from West Africa.

It is expected that the number of students and the operational budget of the university will increase (currently in the range of US$ 3 million) with the completion of the new campus, which will require additional resources to cover the operating expenses.

It is worth noting that the project is in a privileged location in the center of the capital, Niamey, and consists of a commercial center topped by a residential tower. The project was completed at the end of 2019.