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IsDB sings financing agreements worth over$1 billion

[22/05/2025 02:56]

ALGIERS-SABA
The Islamic Development Bank (IsDB) Group, signed several financing agreements with some member countries for a total value exceeding one billion dollars.

The agreements which inked, on the sidelines of the bank's annual meetings held in Algeria, will be directed towards the implementation of various projects related to infrastructure, agriculture, health, and combating climate change.

The bank clarified in a statement that the signed agreements include a financing agreement with the State of Palestine for the Khalid al-Hassan Cancer Hospital project (Phase One) worth 26.6 million dollars, pointing out that among the signed documents are those related to financing the flood protection dams project in the Sultanate of Oman, amounting to over 632 million dollars.

The bank also signed a financing agreement with Bangladesh for the construction of five bridges worth 241.3 million dollars and directed financing to the country of Sierra Leone with a total amount of 38.1 million dollars.

Additionally, the bank signed an agreement with Mauritania for the 'Financing of the Vocational Training and Youth Employment Enhancement Project' worth 37 million dollars.