• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

  • Fact-Check
  • Economy
    • Trade Facilitation: Nigeria Customs, NACCIMA Strengthen Partnership

      Economic Confidential to Host 3rd Public Lecture, Unveil Books on Nigeria’s…

      Luanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace…

      Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

      Comptroller-General of Customs, Bashir Adewale Adeniyi (MFR), hosted the Executive Chairman of FIRS, Dr. Zacch Adedeji,

      Customs and the “National Single Window” Project

  • National
    • NDLEA Logo

      Drug Kingpin, 5 Others Arrested as NDLEA Moves to Clear Innocent…

      Senator Shehu Buba Condoles with APC National Chairman over Mother’s Death

      Customs College Graduates 50 Officers, Urges Innovation, Discipline

      Police Repatriate Wanted Chinese Fugitive

      Prof ibrahim gambari Chief of Staff

      Reciprocity, Key to Global Relations, Says Ex-Minister Gambari

    • Government
      • African Security: Nigeria Leads from the Front By Edward Gabkwet

        Senator Shehu Buba Condoles with APC National Chairman over Mother’s Death

        CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

        Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

        ACF

        Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

        FG, States, LGs Share N2.001trn for July, Says FAAC

  • Security
    • Customs, CDCFIB Forge Partnership to Boost National Security

      General Musa Rallies African Defence Chiefs to Build Homegrown Security Solutions

      Army Hands Over Fake Major to Police in Lagos

      African Security: Nigeria Leads from the Front By Edward Gabkwet

      NDLEA Logo

      Drug Kingpin, 5 Others Arrested as NDLEA Moves to Clear Innocent…

  • Features
    • African Security: Nigeria Leads from the Front By Edward Gabkwet

      CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

      Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

      Ribadu and the fall of Ansaru By Senator Iroegbu

      Fixing the Fault Lines in Nigeria’s Culture of Recognition, By Mukhtar…

  • State
    • Army Hands Over Fake Major to Police in Lagos

      NDLEA Logo

      Drug Kingpin, 5 Others Arrested as NDLEA Moves to Clear Innocent…

      Military Troops in Action

      Troops Repel Bandits Attack in Katsina, Rescue Abductees in Kogi

      Police Officer

      Police Repel Bandit Attack, Arrest Child Trafficker, Rescue 11 Victims in…

      AbdulRazaq visits Babanla, other communities as new security deployments boost public…

  • Event
    • Economic Confidential to Host 3rd Public Lecture, Unveil Books on Nigeria’s…

      President Bola Ahmed Tinubu

      His Death is a National Loss, Tinubu Mourns Emir of Zuru

      Umar Lauya

      Umar Lauya Declares Candidacy for NYCN Presidency, Vows to Unite and…

      The Executive Secretary/CEO of the National Sugar Department Council (NSDC), Mr. Kamar Bakrin (L), with the CEO of Legacy Sugar Company, Alh. Abubakar Isa Musa (R), during the signing ceremony.

      NSDC, New Operators Seal Landmark Development Agreements, to Produce 400,000MT of…

      Regional Vice President Western and Central Africa at the World Bank, Mr Ousmane Diagana pays a courtesy visit to Baze University

      World Bank Vice President visits Baze University, Commends Educational Standards, Assures…

    • PR Nigeria Award
  • E-Paper
Home Economy Islamic Development Bank Earmarks $2.12b to Member Countries for Developmental Projects
  • Economy

Islamic Development Bank Earmarks $2.12b to Member Countries for Developmental Projects

By
Prnigeria
-
December 11, 2023
Islamic Development Bank, IsDB

Islamic Development Bank Earmarks $2.12b to Member Countries for Developmental Projects

The management of the Islamic Development Bank (IsDB), has approved US$ 2.12 billion to finance new development projects in member countries.

The approval was made at the353rd board meeting, which was chaired by IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser.

The 16 projects are meant to support socio-economic development and promote sustainability in member countries in key strategic sectors such as transport, energy, health and education, in addition to youth development/entrepreneurship-employment.

The President highlighted the significance of the approved projects, and their transformative impacts on improving transportation, health, education, and energy, as well as fostering regional economic integration.

Dr. Al Jasser told the Board members that IsDB is working to deepen the Sukuk (Islamic bonds) market to enable the Bank to finance more projects, be they green, sustainability, or ordinary Sukuk.

PRNigeria reports that top among the approvals is IsDB’s EUR 803.3 million (US$ 845.57 million) financing to Indonesia to contribute to “Strengthening Indonesia’s Health Care Referral Network Project”. The objective of the project is to enhance the physical and service capacity of the health referral system in Indonesia, ensuring that everyone has equal access to quality healthcare services in all districts, cities, and provinces.

The IsDB Board also approved financing of EUR 187.84 million (US$ 204.00 million) to Morocco for the “Construction of Guercif-Nador Highway Project” in the Kingdom of Morocco.

Read Also:

  • Customs, CDCFIB Forge Partnership to Boost National Security
  • General Musa Rallies African Defence Chiefs to Build Homegrown Security Solutions
  • Army Hands Over Fake Major to Police in Lagos

The project aims to contribute to improving the connectivity of the Oriental region and the Nador West Med port complex by completing the construction 104 km of highway including 17 bridges and 53 flyovers by 2029.

Also, among the key approved projects are IsDB’s financing contribution of EUR 136.86 million (US$ 144.00 million) to Burkina Faso and US$ 106 Million to Uganda to improve the living environment of the populations and support the transport sector in the two beneficiary countries.

Other development projects approved by the board included  EUR 55 million (US$ 58.0 million) to the Republic of Mali to help enhancing the country’s electricity transmission grid via modernization and expanding of the high voltage transmission infrastructure; Euro 64.30 million (US$ 70.0 million) for the Republic of Chad and EUR 25.24 million (US$ 27.13 million) to the Republic of Togo to support the higher education sector in these two African member countries and US$ 16.90 million in slums Upgrading and Integrated Urban Development Project in Bouloas, Djibouti to improve the livelihoods of people living in slum areas through developing basic economic infrastructure.

Others are: US$ 79 million to improve access to affordable, resilient, and energy-efficient housing for the underserved population, as well as to support the Shariah mortgage development in the Kyrgyz Republic; US$ 40.00 million to contribute towards supporting sustainable and green economic transformation of the Maldivian economy through improved access to Islamic finance while embracing social and environmental responsibilities; US$ 200 million to deliver beneficiary‐driven, multi‐hazard resilient, reconstruction of core housing units to the populace affected by the 2022 floods in Sindh province in Pakistan and US$27 million to improve the quality of life of the people living along the project road as well as contribute to the development of the international transit traffic potential of Tajikistan.

The IsDB Board also approved US$ 300 million in financing for two projects for Türkiye earthquake-affected areas:

By PRNigeria

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • IsDB
  • Islamic Development Bank
  • Projects
Previous articleLagbaja, Musa, Zulum, Others Welcome Tinubu to Maiduguri for Army Chief Conference
Next articleBetween the Dutch Rider and the Policemen
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

General Musa Rallies African Defence Chiefs to Build Homegrown Security Solutions

Army Hands Over Fake Major to Police in Lagos

Trade Facilitation: Nigeria Customs, NACCIMA Strengthen Partnership

Senator Shehu Buba Condoles with APC National Chairman over Mother’s Death

Police Repatriate Wanted Chinese Fugitive

Prof ibrahim gambari Chief of Staff

Reciprocity, Key to Global Relations, Says Ex-Minister Gambari

Economic Confidential to Host 3rd Public Lecture, Unveil Books on Nigeria’s Economy

The eliminated terrorists and their weapons

OPHK Troops Neutralize Scores of Terrorists in Borno and Yobe States

Ibrahim Yahaya Dandakata of Arewa Economic Forum

Arewa Economic Forum Chairman Loses Mother

Luanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace for Africa’s Infrastructure Push

Flood

Flood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August 24-24

Police Recover arms from Boko Haram in Borno

Man, 65, arrested for illegal arms deal in Anambra – Police

Recent Posts

  • Customs, CDCFIB Forge Partnership to Boost National Security
  • General Musa Rallies African Defence Chiefs to Build Homegrown Security Solutions
  • Army Hands Over Fake Major to Police in Lagos
  • African Security: Nigeria Leads from the Front By Edward Gabkwet
  • Trade Facilitation: Nigeria Customs, NACCIMA Strengthen Partnership
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Customs, CDCFIB Forge Partnership to Boost National SecurityGeneral Musa Rallies African Defence Chiefs to Build Homegrown Security SolutionsArmy Hands Over Fake Major to Police in LagosAfrican Security: Nigeria Leads from the Front By Edward GabkwetTrade Facilitation: Nigeria Customs, NACCIMA Strengthen PartnershipDrug Kingpin, 5 Others Arrested as NDLEA Moves to Clear Innocent Pilgrims Detained in Saudi Arabia Troops Repel Bandits Attack in Katsina, Rescue Abductees in KogiOver 1,000 Terror Groups Threaten Africa’s Stability - UN EnvoyPolice Repel Bandit Attack, Arrest Child Trafficker, Rescue 11 Victims in BenueAbdulRazaq visits Babanla, other communities as new security deployments boost public safetySenator Shehu Buba Condoles with APC National Chairman over Mother's DeathNDLEA Arrest Widow Using Fake Pregnancy to Traffic Cocaine, Destroy Skunk in Edo, Taraba, Ondo, DeltaCustoms College Graduates 50 Officers, Urges Innovation, DisciplineKano Police Transfer 23 Officers Amid Probe into Alleged Corruption at Sheka DivisionPolice Repatriate Wanted Chinese Fugitive
X whatsapp