Islamic Development Bank Board Approves USD 1.12 Billion in Development Financing

The Board of Executive Directors of the Islamic Development Bank (IsDB) has announced that it has approved USD 1.12 billion in financing for development projects in various sectors in 9 member countries along with USD 1.79 million in grants for various other projects including special assistance grants to Muslim communities in 3 non-member countries, during its 347th session held on the 10th of September 2022.

Why it Matters?

The Board reviewed and approved projects in important industries including food security, health, transportation, energy, urban development, education, water, and sanitation at the meeting, which was presided over by HE Dr Muhammad Al Jasser, President of IsDB and Chairman of the IsDB Group. Also discussed were the current financial...