Algiers: The Islamic Development Bank (IsDB) has approved over USD 1.32 billion in development financing to drive inclusive growth, climate resilience, and economic opportunity across its Member Countries. The approvals were made during the 360th meeting of the IsDB Board of Executive Directors, which took place on the sidelines of the 2025 IsDB annual meetings held in Algiers from May 19-22.
According to Kuwait News Agency, the IsDB Board’s decisions encompassed a wide range of projects related to health, infrastructure, food security, vocational training, and access to water. IsDB Chairman Muhammad Al-Jasser emphasized that the approval of these strategic projects reaffirms the Bank’s unwavering commitment to financing transformative, high-impact initiatives that promote socio-economic development.
Al-Jasser further elaborated that the initiative, which aims to strengthen flood resilience, expand healthcare access, enhance food security, and equip youth with critical skills, would contribute significantly
towards achieving the Sustainable Development Goals (SDGs) and addressing the evolving priorities of Member Countries.
The IsDB Board meetings saw participation from about 2000 economists, business leaders, and senior officials from 57 Member Countries, reflecting the collaborative efforts to address pressing developmental challenges.