Riyadh: The Islamic Development Bank (IsDB) approved more than $1.32 billion yesterday in development funding to support inclusive growth, climate resilience, and economic opportunities in member countries. This took place at the 360th meeting of the IsDB board of executive directors, held in Algiers during the 2025 IsDB annual meetings.
According to Saudi Press Agency, the meeting was chaired by IsDB Chairman Dr. Muhammad Al Jasser and covered a wide range of projects in the areas of health, infrastructure, food security, vocational training, and water provision. These initiatives reflect IsDB's commitment to accelerating the achievement of the Sustainable Development Goals (SDGs) and supporting member countries in addressing their interconnected development challenges.
Al Jasser noted that this financing will contribute to progress towards achieving the SDGs and address evolving priorities of member countries, including enhancing flood resilience, expanding access to healthcare, boosting food security, and equipping youth with essential skills. Among the key approvals was a climate-resilient flood-protection dams project in Oman valued at $632.16 million, aimed at mitigating climate risks and protecting over 670,000 people through the construction of large-scale flood management infrastructure.