Home Business IsDB approves US$176.12 mn financing for food security, health, transport, water, sanitation projects in four member countries

IsDB approves US$176.12 mn financing for food security, health, transport, water, sanitation projects in four member countries

by Dubai Forum
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SHARM El SHEIKH, 2nd June, 2022 (WAM) — The Board of Executive Directors of Islamic Development Bank (IsDB) approved US$176.12 million to finance new road transport, health, water and sanitation, and food security projects in 4 member countries namely Guinea Bissau, Togo, Benin and Cameroon.

Chaired by Islamic Development Bank (IsDB) President, Dr. Muhammad Al Jasser, the IsDB Board of Executive Directors gave the approval during 346th session held in Sharm-Elsheikh, Egypt, in conjunction with the 2022 IsDB Group Annual Meetings.

The Board Members also gave their approval to the IsDB Annual Evaluation Report 2021 and reviewed several other reports including the 12th Progress Report on the IsDB Group Strategic Preparedness and Response Program (SPRP) that focuses on mitigating the adverse impacts of the COVID-19 Pandemic.

Details of the development projects approved in the 346th meeting of the IsDB Board of Executive Directors are as follows: Guinea Bissau:
US$15.8 million for Bissau-Dakar Road Corridor Project – Phase 1: Farim – Dungal (Senegal Border) – Guinea Bissau.

Togo:
US$42.80 million blended financing comprising US$ 27.80 million from the Bank and US$15 million from IsDB’s Lives and Livelihoods Fund (LLF) for the Strengthening of Health System and Primary Health Care Project in Togo.

Benin:
US$ 18.40 million blended financing comprising US$ 12 million Installment Sale financing and US$ 6.4 million LLF Donor Grant funding for the Integrated Agriculture Value Chain Development Project –(IAVCDP), Benin.

Cameroon:
US$84.62 million (EUR 79.44 million) for the Rice Value Chain Development (RVCD) Project, Republic of Cameroon.

WAM/Tariq alfaham/Hatem Mohamed

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