Jeddah, Saudi Arabia — The Islamic Development Bank Group (IsDB) signed more than $1 billion in new funding agreements with member states and global institutions, aiming to advance sustainable development and climate resilience projects in Africa and Asia.
These Islamic Development Bank funding agreements were formalized during the third day of IsDB’s annual meetings in Algiers. They cover sectors such as flood control, vocational training, public health, and agricultural development. Dr. Muhammad Al-Jasser, President of IsDB, led the signings with representatives from multiple governments.
A $632.1 million agreement with Oman will support the construction of flood-protection dams to safeguard communities and improve water resource management. In Mauritania, a €37 million grant will fund youth employment investment programs that include vocational training and job creation.
Projects Addressing Health and Poverty
IsDB also pledged $26.6 million to upgrade the Palestinian healthcare system by developing the Khalid Al-Hassan Cancer Hospital and launching a cancer research center. In Sierra Leone, a $38.2 million program will support poverty reduction programs, benefiting 60,000 families by diversifying livestock production.
Additionally, a $3 million investment will help Zambia increase peanut yields under a broader effort to improve agricultural productivity in the region. These climate resilience financing initiatives reflect IsDB’s growing focus on food security, sustainable agriculture, and economic equity.
By committing to healthcare infrastructure development, rural livelihoods, and green investment, the Islamic Development Bank continues to play a key role in responding to economic and environmental challenges across its member states.
These funding efforts reinforce the Bank’s strategy to provide integrated development solutions. They also support the broader goal of transforming economies and enhancing social resilience in line with long-term sustainability targets.
