Islamic Development Bank Approves More than US$ 110 Million for New Development Projects in MCs

Tashkent, Uzbekistan, 1 September 2021 - The Board of Executive Directors of the Islamic Development Bank (IsDB) held its 341st meeting on the sidelines of the IsDB Group Board of Governors’ 2021 Annual Meetings underway in Tashkent, Uzbekistan.

Chairing the meeting, H.E. Dr. Al Jasser stated that he was honored with the endorsement of his election by the Board as the President of IsDB and Chairman of the IsDB Group.

“Your Excellencies, respected countries and governments. I will work to the best of my abilities for the benefit of this institution. I will spare no effort to meet the expectations of member countries and those that rely on our support and advice,” Dr. Al Jasser added.

The 2021 Annual Meetings of the Board of Governors of IsDB Group is taking place from 1-4 September 2021 in the city of Tashkent. During the meetings, there are several side events, knowledge sharing activities and bilateral meetings aimed at meeting the development aspirations of IsDB member countries.

The Board approved three new development projects for Nigeria, Guinea, and Sierra Leone totaling US$ 110.14 million in infrastructure, water and sanitation, and education.

The details of the approved projects are as follows:

  • Upgrading the Minna-Bida Road Project in Niger State – Nigeria: US$ 86.64 million to the Government of Nigeria for Upgrading of Minna-Bida Road Project. The overall development objective of the project is to contribute to the socio-economic development of Niger State in Nigeria through constructing safe, efficient, and cost-effective interconnections between the Local Government Areas (LGAs) of Niger State.

The Project reduces travel time, vehicle operating cost and road maintenance cost, in addition to improved traffic flow and increased road safety.

  • Wastewater Treatment Development Project in Conakry:

US$ 18.8 million to the Republic of Guinea for the Wastewater Treatment Development Project in Conakry Under Reverse Linkage.

The Project aims to improve sanitation service in Conakry by treating the collected wastewater before discharging it to the ocean in order to protect the public and environment from the negative effects of the untreated wastewater.

  • Digital Connectivity in Schools to Accelerate COVID-19 Education Response and Recovery Project – Sierra Leone

US$ 5 million to Government of Sierra Leone for the Digital Connectivity in Schools to Accelerate COVID-19 Education Response and Recovery Project.

The project’s main objectives are to: (i) Restore and restart the educational system and connect communities to critical information and opportunities in the digital economy, and (ii) Drive economic stimulus through the connection of community’s information and opportunities in the digital economy. The project is to expand digital connectivity in schools to accelerate COVID-19 education response and recovery; and to create access to updated educational content, and online courses.