BAKU, Azerbaijan, October 15. The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved $96.73 million financing for water resources management to boost agricultural productivity and ensure food security, Trend reports via the Bank.
The approval came during the 357th IsDB Board meeting chaired by IsDB President, Muhammad Al Jasser, on 14th October 2024.
In total, the Bank approved more than US$ 3 billion in financing for 20 socio-economic development projects across 17 member countries.
Among other recipients are:
Kazakhstan: $1,153.5 million for a climate resilient water resources development project to enhance agricultural productivity and ensure food and water security.
Kyrgyzstan: $45.11 million to enhance the livelihoods of smallholder farmers and improve food security through agriculture mechanization as well as $58.25 million additional financing aiming at fostering social and economic development in Issyk-Kul region through reliable and efficient energy supply
Uzbekistan: $138.80 million to upgrade an existing road, from a four-lane dual carriageway to a six-lane dual one, in order to accommodate current and future traffic demands, enhance regional and local connectivity, and improve road safety.
Türkiye: 246.40 million euros ($261.18 million) to contribute to safe, accessible and sustainable transport systems through the Eastern Türkiye Middle Corridor Railway Development Project as well as $100 million additional financing for another project for economic recovery in earthquake-affected regions and to improve productivity and competitiveness across the country.
Furthermore, the IsDB Board approved a US$ 10 million grant operation contribution to the Health Impact Platform in partnership with the World Health Organization, thus joining efforts with partners towards improving global health outcomes.
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