Africa to Get more IsDB Assistance

An urban skyline in Kenya. The Islamic Development Bank intends to offer fresh financial aid worth some USD1 billion to Africa states in the near future. Photo by: Curt Carnemark / World Bank

The Islamic Development Bank intends to offer fresh financial aid worth some USD1 billion to African states in the near future, according to the bank’s president. 

The statement by Ahmed Muhammad Ali came a week before the bank’s 35th annual meeting, which will be held in Baku, Azerbaijan.

The IsDB chief, as quoted by Arab News, said the bank’s assistance for Africa is “credible and massive.” 

Ali added that IsDB will tap the Islamic Solidarity Fund for Development to mobilize aid for African nations. The fund aims to raise some USD10 billion to promote functional literacy and eradicate diseases.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.