The Islamic Development Bank (IsDB) has approved nearly $297 million to fund major development projects in Côte d’Ivoire,Gambia,and Mauritania. The funds aim to boost job creation,strengthen public services,and drive inclusive growth.
The approval came during the IsDB’s 361st Board of Directors meeting held at the beginning of this week. The financing will support projects across health,education,and transport sectors in the three countries,the bank said in a press release.
In Côte d’Ivoire,the IsDB will invest €200 million ($234 million) in the Sustainable and Integrated Urban Mobility Project in Abidjan. The project aims to ease chronic traffic congestion and build a greener,more efficient transport system. Authorities say the plan will improve the quality of life for millions of residents.
Gambia will receive $32.2 million to launch the School of Medicine and Allied Health Sciences (SMAHS) at the University of Gambia. The initiative responds to a critical shortage of healthcare professionals in the country. The new school will train doctors,nurses,and specialists,improving national health outcomes.
Mauritania will get €26.18 million ($30.72 million) to expand the National Cardiology Center in Nouakchott. The project will increase the country’s capacity to prevent,diagnose,and treat cardiovascular diseases—a leading cause of death in the region.
This new wave of financing follows a larger commitment by the IsDB earlier this year,when it approved $665.75 million for development programs in seven African member countries. The bank continues to align its financing with the United Nations Sustainable Development Goals by focusing on projects with high economic and social impact.
Since its creation in 1975 until June 2022,the Islamic Development Bank has delivered about $65 billion in financing across Africa. Of this amount,nearly $20 billion supported trade financing,confirming the bank’s deep involvement in the continent’s economic transformation.
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