lasilkiin.com
  • Home
  • Politics
  • Business
  • Sports
  • Health
  • Religion
  • Editorial
  • Youth wing
No Result
View All Result
Donate
  • Home
  • Politics
  • Business
  • Sports
  • Health
  • Religion
  • Editorial
  • Youth wing
No Result
View All Result
lasilkiin.com
No Result
View All Result
Home Business

Islamic Development Bank approves $1.12bn in development financing for nine member countries

The bank approved a $1.79m grant for projects in key sectors such as food security, health, transport, energy, urban development, education, water, and sanitation

lasilkiinadmin by lasilkiinadmin
September 12, 2022
in Business, Empowerment, International, News, Religion, Top Story, Trending
0
Islamic Development Bank approves $1.12bn in development financing for nine member countries
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

SEPTEMBER 11, 2022

Saudi Arabia’s $1.12 billion in development financing
Saudi Arabia-headquartered Islamic Development Bank’s (IsDB) board of executive directors, approved a total of $1.12bn for development projects financing in various sectors across nine of its member countries as well as a $1.79m grant for a number of other projects in key sectors such as food security, health, transport, energy, urban development, education, water and sanitation.

The bank’s board also approved two projects under the public-private partnership (PPP) mechanism for Uzbekistan and Uganda, according to a report published by the UAE’s state news agency, WAM.

This includes the EUR100m Surkhandarya Combined Cycle Power Plant Project for Uzbekistan, which aims to meet the growing demand for the country’s energy consumption and substitute the ageing and inefficient fleet of gas-fired thermal power plants.

In Uganda, the financing of $100m, part of the Islamic tranche, will enable the country to tap into its oil reserves and export oil to international markets through a 1,443-kilometre cross-border buried-heated crude oil pipeline.

The bank approved a total of $601.7m, as sovereign financing, for transport projects in Guyana ($200m), Uzbekistan ($106.7m), and Uganda ($295m). These projects are expected to enhance access infrastructure, facilitate access to markets for farmers and traders, and strengthen regional integration and tourism for the member countries.

In the health sector, sovereign financing of EUR205m was approved for the Strengthening of the National Referral Hospital on Oncology Center for the Republic of Indonesia. By modernising six national referral hospitals in the country, the project aims to improve the availability, accessibility, quality, and delivery of oncology services for children and adults.

Other key proposals accepted included the debt restructuring of Queen Alia International Airport in Jordan, as well as the modification of the mode financing of the approved installment sale financing to Commodity Murabaha for the 300-bed hospital project in Kaduna State, Nigeria.

The board approved $ 1m in grants to provide market access readiness in key economic trade sectors in Yemen. This programme will tackle existing gaps in the selected trade sectors.

A grant package of $785,000 was also approved for projects in Zambia, India, and Bosnia. These funds are primarily earmarked for the expansion of school facilities, in response to the high demand from students.

Tags: GRANTIDBSaudi Arabia
Previous Post

13-year-old Girl memorizes, writes complete Qur’an

Next Post

3 students of Chukwuemeka Odumegwu Ojukwu University in Anambra found dead in their lodge

Related Posts

Islamic Scholar Sheikh Binuyo Dies at 96
News

Islamic Scholar Sheikh Binuyo Dies at 96

January 24, 2023
Professor Fagbohun urges FUO graduates to rise up to tackle challenges facing Nigeria
Education

Professor Fagbohun urges FUO graduates to rise up to tackle challenges facing Nigeria

January 14, 2023
FUO CONVOCATION: New Executive Sworn In For Parents Forum
Education

FUO CONVOCATION: New Executive Sworn In For Parents Forum

January 11, 2023
Next Post
3 students of Chukwuemeka Odumegwu Ojukwu University in Anambra found dead in their lodge

3 students of Chukwuemeka Odumegwu Ojukwu University in Anambra found dead in their lodge

LASTMA ARRAIGNS 146 TRAFFIC LAW VIOLATORS/OFFENDERS BEFORE MOBILE COURT

LASTMA ARRAIGNS 146 TRAFFIC LAW VIOLATORS/OFFENDERS BEFORE MOBILE COURT

Lagos Govt. Stops Approval For Existing Building Adjustment, Others

Lagos Govt. Stops Approval For Existing Building Adjustment, Others

Please login to join discussion

Recommended

Monkeypox: public health advice for gay, bisexual and other men who have sex with men

8 months ago
2023 Elections: Sanwo-Olu advises Nigerians to shun violence, negative tendencies

2023 Elections: Sanwo-Olu advises Nigerians to shun violence, negative tendencies

4 months ago
Nigeria Cancels COVID-19 Test For Travellers

Nigeria Cancels COVID-19 Test For Travellers

2 months ago
NASFAT wants quality leaders elected in 2023

NASFAT wants quality leaders elected in 2023

8 months ago

Categories

  • Business
  • Editorial
  • Education
  • Empowerment
  • Entertainment
  • From NASFAT Chief Misssioner
  • Health
  • International
  • Lifestyle
  • National
  • News
  • Opinion
  • Photo Speaks
  • Politics
  • Religion
  • Sports
  • Top Story
  • Trending
  • Uncategorized
  • Youth wing
No Result
View All Result

Highlights

FUO CONVOCATION: New Executive Sworn In For Parents Forum

Napoli interested in Azzedine Ounahi, sets to become third African in Naples

Mendy out, as goalkeeper undergoes surgery on broken finger

Ex-Lagos commissioner appointed NDIC chairman

Female VC Emerges In FUO

Fountain University Sets For Her 12th Convocation Ceremony

https://vimeo.com/754224285?loop=0

Trending

Islamic Scholar Sheikh Binuyo Dies at 96
News

Islamic Scholar Sheikh Binuyo Dies at 96

by Lasilkiinadmin
January 24, 2023
0

Islamic Scholar Sheikh Binuyo Dies at 96 January 24, 2023 A former Correspondent of the Voice of...

PHOTO SPEAKS

PHOTO SPEAKS

January 14, 2023
Professor Fagbohun urges FUO graduates to rise up to tackle challenges facing Nigeria

Professor Fagbohun urges FUO graduates to rise up to tackle challenges facing Nigeria

January 14, 2023
FUO CONVOCATION: New Executive Sworn In For Parents Forum

FUO CONVOCATION: New Executive Sworn In For Parents Forum

January 11, 2023
Napoli interested in Azzedine Ounahi, sets to become third African in Naples

Napoli interested in Azzedine Ounahi, sets to become third African in Naples

January 10, 2023

Lasilkiin Communications Limited is Radio and Television Service company....

Follow us on social media:

Lasilkiin

₦
Select Payment Method
Personal Info

To make an offline donation toward this cause, follow these steps:

Naira Account
Lasilkiin Communications Limited
United Bank of Africa1025788810

Dollar account
Lasilkiin Communication Limited
3003945088
United Bank of Africa

Donation Total: ₦ 100.00

Category

  • Business
  • Editorial
  • Education
  • Empowerment
  • Entertainment
  • From NASFAT Chief Misssioner
  • Health
  • International
  • Lifestyle
  • National
  • News
  • Opinion
  • Photo Speaks
  • Politics
  • Religion
  • Sports
  • Top Story
  • Trending
  • Uncategorized
  • Youth wing
  • About
  • Advertise
  • Careers
  • Contact
  • NASFAT

© 2022 Lasilkiin Communications Limited.

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Sports
  • Lifestyle
  • Religion
  • Health
  • Empowerment
  • From NASFAT Chief Misssioner
  • Editorial
  • Youth wing

© 2022 Lasilkiin Communications Limited.