The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved $368.98mn to finance new development projects across member countries.
The decision was made at the 356th board meeting, chaired by IsDB Group Chairman, Dr. Muhammad Al Jasser. The approved projects will benefit Türkiye, Turkmenistan, and Suriname, aiming to foster sustainable development and socio-economic growth.
In his remarks, IsDB President Dr. Muhammad Al Jasser emphasized the transformative impact of the approved projects, highlighting their role in improving transportation, health, education, and energy sectors. He noted the importance of these investments in promoting sustainable development and enhancing the quality of life for communities in the member countries.
For Türkiye, the IsDB has allocated $165mn to support the rapid delivery of inclusive, equitable, and quality education. This initiative will focus on constructing and operationalizing green, resilient, and sustainable schools in earthquake-affected and earthquake-prone areas. The project will build 33 schools, adding 808 classrooms, and benefiting 24,640 students annually. Additionally, it will enhance disaster resilience for over 319,206 people.
Suriname will receive $47.68mn from the IsDB to enhance its power transmission and distribution network. This project aims to eliminate bottlenecks, increase capacity, and improve system performance. It will connect 4,350 new households and 470 commercial units to the grid, meeting the increasing national electricity demand and ensuring a more reliable power supply.
In Turkmenistan, the IsDB will finance $156.3mn to improve access to high-quality oncology services. The funding will be used to construct three oncology centers and train healthcare providers. The project is expected to increase daily in-patient services by 33% and improve cancer treatment for 11,750 patients annually, significantly reducing cancer incidence and mortality rates.
In addition to approving these projects, the IsDB Board reviewed several reports, including a report on the Corporate Evaluation of IsDB Group Decentralization Experience and a Report on Share of IsDB Group Capital Increase.
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