������Ƶ

Sunday Okobi

The Board of Executive Directors (BED) of Islamic Development Bank (IsDB), led by IsDB President, H.E. Dr. Muhammad Al Jasser, has approved a new package of US$938 million in development financing for Nigeria and five other member countries.

The package agreed at the board’s 368th meeting in Jeddah, Saudi Arabia, was to support transformative projects in energy, agriculture, health, transport, water supply, resilience, sanitation, and connectivity in the benefitting countries.

The approvals, according to a statement made available to ������Ƶ yesterday by its Communication Director, Ahmed Abu Ghazeleh, highlighted IsDB’s ongoing commitment to turning development goals into tangible impact.

The statement identified priority areas to include lighting homes with cleaner energy, helping farmers cultivate more productive and resilient livelihoods, safeguarding children from preventable diseases, improving road connectivity, and expanding access to safe water, and sanitation in rural areas.

The statement said, for Nigeria, the board approved US$60.67 million for the Katsina State Integrated Agricultural Development Hubs Project.

“This initiative aims to boost incomes and resilience among farmers in Katsina State by enhancing agricultural productivity and strengthening farmers’ capacity to withstand climate and market shocks,” it stated.

In the Republic of Uzbekistan, the board approved US$115 million for the Kungrad Wind Power and Battery Storage Project, a landmark clean-energy investment to increase private wind power capacity and support the country’s rising energy needs.

The board also approved US$202.150 million for Uzbekistan’s Agriculture Mechanisation Development Project, “which aims to expand access to modern, efficient, and climate-smart agricultural mechanization solutions.”

Ghazeleh added that the board approved US$100 million for the Islamic Republic of Pakistan for the Polio Eradication Phase V Project.

The statement said, “The funding will back Pakistan’s efforts to eradicate wild poliovirus and all circulating vaccine-derived polioviruses, while strengthening the country’s pathway towards achieving post-polio certification by the end of 2029.”

For Tunisia, the board approved EUR335.49 million for the Highway Network Extension Project to the El Kef and Jendouba regions.

The statement added that the project would promote economic integration and regional development through improved accessibility and connectivity, strengthen social cohesion by enhancing mobility, and improve road safety and overall transport infrastructure quality.

Additionally, the board approved a US$2.92 million grant to support the road transport sector in the Syrian Arab Republic.

“This grant will bolster institutional credibility, build public confidence, support wider stabilisation efforts, and contribute to economic recovery by improving a vital sector for mobility, services, and reconstruction,” Ghazeleh said in the statement.

In the Kyrgyz Republic, the statement explained that the IsDB board approved US$70.70 million for Phase 2 of the Improvement of Water Supply and Sanitation in Jalalabad Region Project.

The initiative, it added, was aimed at increasing equitable access to safe, reliable, and climate-resilient drinking water and sanitation services in rural Jalalabad.

Commenting on the approvals, IsDB boss, Dr. Al Jasser, reaffirmed the bank’s steadfast commitment to supporting development that reaches people where it matters most.

Al Jasser added, “The newly approved projects exemplify the bank’s development approach, combining strategic financing, strong partnerships, and country-led priorities to deliver measurable impact.”

As a flashback, the bank leaders at this year’s IsDB Group Annual Meetings in Baku, Azerbaijan, expressed a strong commitment to supporting transformative projects that would enhance connectivity, energy security, food systems, climate resilience, and multiple Sustainable Development Goals (SDGs) across Member Countries, including Nigeria.