The Islamic Development Bank has approved USD772.3 million in financing for new development projects.
The financing will benefit nine IsDB member countries, namely Indonesia, Uzbekistan, Bangladesh, Pakistan, Sudan, Turkmenistan, Gambia, Mauritania and Albania.
The financing also includes technical assistance grants to Benin, Chad, Togo and the Gulf Cooperation Council, and grants and concessional loans to Sudan.
Health and education projects in IsDB nonmember countries including Congo, Fiji, India and South Africa will also benefit from the funding.
The biggest portion of the amount worth USD167.2 million will be used for the reconstruction of the M39 road in Uzbekistan’s Surkhandarya region. The next two biggest allocations will go toward building a bridge in Bangladesh, which is valued at USD140 million, and supporting community development in Indonesia, which gains USD136 million from IsDB.
