IsDB approves $1.365b for development in 12 nations
The Islamic Development Bank (IsDB) has approved $1.365 billion in financing to support development projects across 12 member countries, the bank announced following its 363rd Board of Executive Directors session chaired by President Muhammad Al Jasser.
The 14 approved projects span multiple sectors, including renewable energy, cross-border power networks, major transport corridors, water and agricultural security, education, and health services. Key allocations include $110 million for solar and battery storage projects in Samarkand, Uzbekistan, $13.95 million for tourism and hospitality education in Tajikistan, and $10 million from the ISFD for the Out-of-School Children Project in Azad Jammu and Kashmir, Pakistan, News.Az reports, citing foreign media.
The funding aims to strengthen economic resilience, improve access to essential services, accelerate energy-sector transformation, and advance progress toward the UN Sustainable Development Goals (SDGs).
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