IsDB makes USD 1.5 Billion Sukuk Issuance to Support COVID-19 Recovery in Member Countries

In a document released on the 18th of June 2020, the Islamic Development Bank (IsDB) announced the sale of a USD 1.5 billion five-year Sukuk. The proceeds will be used to finance projects in member countries in response to the COVID-19 pandemic.

According to an investor presentation by the IsDB, the funds are expected to go towards financing sustainable projects, including employment generation and the financing of small and medium-sized enterprises, as well as to support educational programs, The presentation revealed that the IsDB has also introduced a strategy for the COVID-19 pandemic, which involves improving health care services, developing capacity to manufacture test kits and vaccines, ensuring stability of supp...