US$ 15 Million Agreement between IsDB and Djibouti Aims to Spearhead SDG11

Jeddah, KSA, 21 December 2022 – Islamic Development Bank President and Group Chairman, H.E. Dr. Muhammad Al Jasser, and Djibouti’s Minister of City, Urban Planning and Housing, H.E. Mrs. Amina Abdi Aden, have put their signatures to a US$15 million financing agreement that supports the country’s national zero slum program and housing strategies.

The document was signed at IsDB Group headquarters in Jeddah, KSA, on 21 December 2022 to improve human development and economic empowerment through enhanced access to urban services for poor households in the target slum neighborhoods of Djag-Boudhouq, Djibouti.

At the signing ceremony, President Al Jasser praised the ongoing cooperation between IsDB and Djibouti adding: “This financing agreement is yet another demonstration of our commitment to support the development objectives of our Member Countries.”

The project conforms with IsDB efforts to facilitate the achievement of SDG11 (Make Cities and Human Settlements Inclusive, Safe, and Sustainable) and will eventually serve more than 8 thousand beneficiaries while also spearheading SDG1, SDG5, SDG6, SDG7, SDG8, SDG10, SDG16, and SDG17.

Djibouti joined IsDB in 1980 and is currently a full member of the IsDB Group IsDB Group which has so far approved a total financing of about US$1.5 billion for the country.