JEDDAH: More than $1.32 billion in fresh finance is being given by the Islamic Development Bank for significant projects, such as improving roads in Cameroon, expanding healthcare in Suriname, and protecting Oman from flooding. The financing awards were made public at the 360th meeting of IsDB’s board of executive directors, which was presided over by President Muhammad Al-Jasser and took place in Algiers on May 19 as part of the organization’s annual meetings. Numerous initiatives pertaining to infrastructure, food security, health, vocational training, and water access were discussed during the session.
The $632.16 million flood protection dams project in Oman, which aims to reduce climate risks and protect over 670,000 people by building extensive flood infrastructure, was one of the most important approvals.
Additional infrastructure investments included the €187.83 million PRISE project in Burkina Faso, which will revitalise 302.8 km of road and 61 km of railway to improve regional connectivity with Mali, Niger, Ghana, and Cote d’Ivoire, and the €212.35 million ($238.80 million) Douala–Bafoussam road rehabilitation project in Cameroon, which will shorten travel times and increase road safety on a crucial regional corridor.
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