By Politico staff writer
Sierra Leone is part of 19 Member Countries of the Islamic Development Bank that has benefitted from US$ 1.6 Billion to support 24 development projects in Africa, Asia & Europe
US$ 40.98 Million was allocated to the small West African country for the “RRM for Upgrading of Regional Integration Roads Project”.
The project will contribute to poverty alleviation by providing economic opportunities, markets access, and creation of new employment and entrepreneurship opportunities.
According to a report from the Kingdom of Saudi Arabia, the funding was approved in its 343rd meeting on 18 December, chaired by IsDB President and Chairman of the Board, Dr. Muhammad Al Jasser, the Board of Executive Directors of the Bank.
The approved projects cover a wide array of development sectors including “road construction and high-speed transport; clean and renewable energy; poultry, fisheries, irrigation and agriculture; child nutrition; academic and technical education; as well as vocational training.”
It added that the approvals comprise US$ 1.37 billion of financing from the Bank’s ordinary capital resources (OCR) in addition to US$ 16.5 million of funding allocated by IsDB’s poverty alleviation arm, the Islamic Solidarity Fund for Development (ISFD).
During the session, Dr. Muhammad Al Jasser reiterated the Bank’s full commitment and continued support for member countries to respond to their development challenges and get their economies back on track.
He also stated that in so doing, the IsDB Group continues to cooperate with its global development partners including the MDBs community, the Arab Coordination Group, and IFAD, amongst others, to mobilize new resources.
“Indeed, this package is in the best tradition of acting counter cyclically at these trying times,” President Al Jasser said.
Indonesia got US$ 150 million for the “Development of the Trans South-South Java Road (Phase-II) Project”.
The project will foster sustainable economic growth and poverty reduction throughout Southern Java and improve the standards of living and mobility of people.
Pakistan also got US$180 million for “Mohmand Dam and Hydropower Project”. The project enhances energy generation and provides sustainable water resources for agriculture and human consumption, while improving the region's resilience to floods.
Uganda, US$ 86.5 million for the “Irrigation Schemes Development in Unyama, Namulu and Sipi Regions”. The project contributes to poverty reduction, economic growth, food security, climate resilience and enhancing access to sustainable water resource.
Senegal, EUR 100.00 million for the “Regional Express Train (TER) (Phase-II) Project”. The project aims to meet the increasing demand for urban traffic between Dakar City Center and to the AIIBD Airport by reducing travel time from 1.5 to 0.5 hour, reducing operating costs and air pollution. And US$ 5 million of ISFD Financing for the “Construction of a Commercial and Residential Waqf Complex for the Benefit of the Daras Schools”.The project will enable to address the inadequate and unsuitable physical infrastructure of the schools, furniture, equipment, Insufficient and outdated inputs for education.
Mali got EUR 22.66 Million for the Financing of the “Poultry and Fisheries Value Chain Development Project”. The project will directly benefit 120,000 poultry and fish producers and indirectly benefit around 2 million farm families. 60% of the project direct beneficiaries will be women.
Guinea EUR 159.56 million for the “Construction of LABÉ-MALI Road”. The project supports economic infrastructures in agricultural production areas, improve rural accessibility and boost agricultural and mining value chains. EUR 23 million to the Republic of Guinea to cover the “Additional Financing for the OMVG High Voltage Electricity Interconnection Project”.
The project aims at satisfying the increasing demand of electricity, improving the living conditions by providing collective economic welfare.
Cote d’Ivoire US$ 47.00 million for the “Integrated Nutrition and Early Childhood Development Project”. The project’s objective is to reduce the rate of stunting by 5% among children 0-59 months. The project will strengthen the quality of health care provision and nutrition actions. EUR 115.00 Million for the “Support to the Development of the University of Odienne Project”.The project aims to strengthen human capital development through increasing access to higher education and improving the labor market relevance.
Burkina Faso EUR 17.39 million for the “Basic Education Development Project Phase V”.
The key results include expanded access to basic education, improved quality of basic education and created/reinforced businesses and employment opportunities.
Nigeria, US$ 29.75 million for the “Front-End Engineering Design Phase II Study Project for Morocco Gas Pipeline – Nigeria Segment”. The project will enable the West African States to replace costly oil-fired generation with renewable power generation and gas-fired power generation. US$ 150.52 million to cover the “IsDB Support for Special Agro-Industrial Processing Zone (SAPZ) Project”.
The project will increase household incomes, providing 185,000 new jobs, enhancing food security and increasing the yields of key crops by 50%. It supports a larger Program of the Government for building an inclusive and sustainable agro-industrial development to enhance the competitiveness of the agriculture sector. As a part of this program, the Government is working with several financiers including the AfDB.
TOGO, US$ 20 Million for the “Support to Basic Education Development Project in Togo (PAAQET)”.
The project enhances equity and quality of education in Togo by facilitating schooling opportunities for 102,000 school children and providing training and capacity building for 6,000 schoolteachers.
The Gambia US$ 14 million for the “Widening of BERTIL – HARDING Highway Project”. The project will contribute to the economic growth of the country by supporting the transport, increasing the percentage of the primary road network from 80% to 100%. US$ 7 million for the “Development of the University of the Gambia (UTG) Phase II Project”. The project increases the number of students enrolled in UTG by 1,600, increasing the percentage of the enrolled girls to 25% and 2 schools constructed and equipped.
In addition to reviewing several other reports, the Board Members approved the date and venue of the 2022 Annual Meetings of the Islamic Development Bank Group which will be hosted by the Arab Republic of Egypt in Sharm El Sheikh, in June next year.
Copyright © 2021 Politico Online (28/12/21)
