The Islamic Development Bank (IsDb) approved US$320.56m in financing to new development projects in water and sanitation, health, roads and women empowerment at its 337th meeting.
The Board increased the grant allocation from Ordinary Capital Resources to 10% of the Annual Net Income, up from 5% currently, to implement the President’s 5-Year Programme and help member countries meet their social, human, technical and operating needs.
It doubled, as of 2020, the grant allocation from the Bank’s Annual Net Income to 4%, up from 2% currently, to finance the Scholarship Programmes. It approved the regulations of the Awqaf Financing Fund in the Kingdom of Saudi Arabia, to take effect as of the date of its approval.
The Board also approved two policy documents. The Urban Sector Policy establishes the overall directions to guide the Bank’s future urban development operations, focusing on the ultimate goal of achieving inclusive and sustainable urban development in member countries.
The Water Sector Policy for sustainable and resilient water and sanitation systems for all is designed to guide the Bank’s future contribution towards overcoming the major challenges of using and managing water resources and providing water and sanitation services.
Following are the details of projects approved by the Board during the same meeting.
The Freetown WASH and Aquatic Environment Revamping Project, Sierra Leone, for US$40m
The overall objective of the project is to improve the water supply and sanitation services and ensure the sustainability of the vital aquatic ecosystem in the Western Area of the capital Freetown. The development objectives of the project are to:
- meet the potable water needs of Freetown by 2025 through increased production capacity from 70,000 to 110,000 m3/day;
- rehabilitate and expand water treatment, transmission, storage and distribution systems;
- improve solid and liquid waste collection and disposal services;
- provide infrastructure and enhance capacity for the effective protection of the forest land in the Western Area, and;
- promote good sanitation, hygiene and child nutrition practices.
Supplementary financing for the construction of Pendembu-Kailahun road project, Republic of Sierra Leone.
The supplementary financing will allow for the completion of the Project, achieve all its initial objectives and allay the fears of the local population. Located in the southeast of Sierra Leone, it connects the towns of Pendembu and Kailehun, with no intermittent villages in between.
The Project aims to enhance the accessibility of the south eastern agricultural provinces to the other parts of the country and develop trade between Sierra Leone and its neighbours, Guinea and Liberia. The Project will contribute to poverty alleviation through better access to the mainly agricultural Project area, create new employment opportunities and improve revenues for the local population.
Technical Assistance Grant to Support the Continuity of Medicines for Thalassemia and Genetic Blood Disorder Patients in Yemen for US$363.000
The development objective of the project is to provide access to life-saving medicine to the most vulnerable among Thalassemia and Genetic Blood Disorder patients, including women and children. This project is expected to enhance access to free medicine for one year to 4,549 poor Thalassemia and Genetic Blood Disorder patients, no less than 40% of them are female. The proposed grant will complement the support of the WHO for blood transfusions and medicines and can be considered as an investment in improving Yemen’s human capital.
Business Resilience Assistance for Women Value-Adding Enterprises, Burkina Faso Project for US$8.5m
The project aims to support Burkina Faso’s National Plan for Economic and Social Development, designed to transform the economy and achieve strong, sustainable and resilient growth that will create jobs and raise living standards. Some of the key outcomes include:
- Support in entrepreneurship programmes for 240 women-owned or led MSMEs reporting increased sales or profits;
- Creation of 600 direct jobs by women owned or led MSMEs;
- Support 13 lead firms that introduce new products to markets.
Strengthening National Referral Hospitals and Vertical Technical Units Project, Indonesia for US$261.7m
The Project aims to improve the health conditions and livelihoods of the people of Indonesia in general and the target population of around 77 million in particular. The development objective is to improve the availability, accessibility, quality, and delivery of health services through upgrading six national referral hospitals and vertical technical units in five provinces.
The Project will lead to improved and strengthened mother and child health in terms of inpatient, outpatient and intensive care services; decreased maternal and child mortality, and increased cancer survival rates nationwide. Key output indicators by the end of the project will include the construction of 231.000 m2 of health facilities, the provision of 952 hospital beds, and the training of 5500 hospital staff.