Meeting in Baku, Azerbaijan, the leaders of the Islamic Development Bank approved a vast $2.8 billion investment program. The funding is earmarked for infrastructure, energy, and agriculture in several member countries, with the aim of strengthening regional connectivity, food security, and climate resilience.
Meeting in Baku, Azerbaijan, the Board of Executive Directors of the Islamic Development Bank approved a $2.8 billion financing program at its 367th meeting. These resources are earmarked for infrastructure projects in several member countries. The investments support the Sustainable Development Goals and are aligned with the IsDB Group’s 2026-2035 strategic framework.
This is a really great breakthrough, I mean, for many countries that they’re getting large financing, covering various sectors, energy, connectivity, transport, food security, and also, I mean, climate. I mean, we believe now the next step, our expectations, is to have those projects, important projects, approved for 2.8 billion USD by the Board of Executive Directors to be implemented in quality and timely implementation is expected also to achieve the intended development results.
Cheick Amadou Kader Diallo, Country Operation Manager
The infrastructure sector accounts for a significant portion of the commitments. Uganda will receive €650.75 million for the Malaba-Kampala railway line, while Turkey will receive €660.35 million for the northern rail bypass of Istanbul. In Tajikistan, $98.8 million will finance the rehabilitation of the Rushan-Varshez road. Together, these projects aim to improve mobility, reduce logistics costs, and strengthen regional trade.
We’ll help those member countries when those projects are implemented on time and in quality to improve the lives and livelihood of the population, the people benefiting from this intervention.
Cheick Amadou Kader Diallo, Country Operation Manager
The approved investments also cover energy and agriculture. Bangladesh is receiving over $1 billion to modernize its national refinery, while $150 million is being allocated to solar power in Nigeria. Palestine is receiving $22 million for photovoltaic power plants, and Benin is getting €19.17 million to boost agricultural productivity. In The Gambia, $30.01 million will support the beef sector and food security.
