The Islamic Development Bank (IsDB) has approved over US$1.32 billion in development financing to drive inclusive growth, climate resilience, and economic opportunity across its member countries.

The approvals were given during the 360th Meeting of the IsDB Board of Executive Directors, held in Algiers during the 2025 IsDB Annual Meetings, a statement indicated yesterday.

The meeting chaired by H.E. Dr. Muhammad Al Jasser, President of IsDB, the decisions covered a wide range of projects spanning health, infrastructure, food security, vocational training, and access to water.

According to the bank, the initiatives reflect the bank’s commitment to accelerating the Sustainable Development Goals (SDGs) and supporting member countries as they address overlapping development challenges.

“The approval of these strategic projects reaffirms IsDB’s unwavering commitment to financing transformative, high-impact initiatives that advance socio-economic development,” stated H.E. Dr. Muhammad Al Jasser.

“From strengthening flood resilience and expanding healthcare access to enhancing food security and equipping youth with critical skills, this financing will drive tangible progress towards the Sustainable Development Goals (SDGs) and address the evolving priorities of our member countries.”

Among the most significant approvals was the US$632.16 million Climate-Resilient Flood Protection Dams Project in Oman, designed to mitigate climate risks and safeguard over 670,000 people through the construction of large-scale flood infrastructure.

Other infrastructure approvals included the EUR 212.35 million Douala–Bafoussam Road Rehabilitation Project in Cameroon, which will reduce travel time and improve road safety on a key regional corridor, and the EUR 187.83 million PRISE project in Burkina Faso, which will revitalise 302.8 kms of road and 61 km of railway to enhance regional connectivity with Mali, Niger, Ghana and Côte d’Ivoire.

Meanwhile, the US$26.10 million Establishment of a National Oncology Centre in Djibouti will offer the country’s first dedicated cancer facility, ensuring early diagnosis and access to treatment.

The project is co-financed by the Islamic Solidarity Fund for Development (ISFD) and also includes a US$400,000 Reverse Linkage Grant from IsDB to support technical cooperation with Morocco in oncology service design, training and delivery.

In Togo, IsDB approved two impactful interventions: a US$2 million project to strengthen the national eyecare system and a EUR 23.12 million water supply project that will provide clean drinking water to over 6,000 households in Kara region.

Human capital development featured prominently, with the board endorsing the EUR 36.39 million Enhancing Vocational Training and Youth Employability Project in Mauritania, which will upgrade training centres and equip young men and women with market-relevant skills.

In Côte d’Ivoire, the EUR 104.20 million Rice Value Chain Development Project will reduce rice import dependency and increase farmer incomes—particularly for women and youth. In The Gambia, the bank approved US$3 million in supplementary financing to further strengthen value addition in the groundnut sector and enhance rural livelihoods.