IDB finances new development projects
By Sarah Ann McCay15 November 2012
The Islamic Development Bank (IDB) has pledged US$ 753 million in financing for new development projects in IDB member countries and Muslim communities in non-member countries.
Projects to receive funds from the bank include a second-phase contribution of US$ 250 million towards the South Helwan Power Plant Project in Egypt (thereby raising the Bank’s financing to US$ 450 million to the same project), US$ 100 million for the second phase of Emirates Aluminium (EMAL) Project, and US$ 61 million towards upgrading the North Dakar Expressway in Senegal.
Other development projects that were allocated financing included: US$ 20 million for infrastructure in Sierra Leone; US$ 20.3 million for rainwater harvesting in White Nile, South Kordofan, Sinnar and Darfur States, Sudan; US$ 1 million for capacity building and providing equipment for the Ministry of Planning, Cote d’Ivoire; US$ 10 million for reconstruction of the Taraz-Talas Suusamyr Road – Phase III and US$ 6 million from the ISFD for Sustainable Villages Program in Kyrgyzstan.