The Islamic Development Bank (IsDB) has approved $2.41 billion in financing for major infrastructure and development projects in member countries including Bahrain and Jordan.
This significant spending is dedicated to advancing the United Nations Sustainable Development Goals (SDGs), with a focus on economic diversification, climate resilience, regional cooperation, and critical infrastructure in energy, water and transport.
Among the beneficiaries, Kazakhstan has been allocated the most funds worth over $1.307 billion for economic and industrial zones.
Bahrain is set to get $330.07 million for industrial expansion, which includes the development of landfills and public facilities to strengthen its logistics sector.
Jordan will receive $160 million for water and urban development to ensure drinking water supplies to Aqaba and Amman to reduce water stress.
The funding includes 116 million euros ($134.88 million) to upgrade the Dakar highway in Senegal, $40 million to improve regional energy access in Tajikistan, and $436.67 million for agriculture and irrigation in Azerbaijan.
(Written by Cleofe Maceda; Edited by Seban Scaria) seban.scaria@lseg.com
