US$ 705 million for infrastructure in Islamic communities
06 February 2014
The Islamic Development Bank has approved funding totalling US$ 705 million to support new development projects across the Muslim world.
The finance package included US$ 224 million to support the upgrade and reconstruction of the Ujar-Zardab-Agjabadi road in central Azerbaijan, as well as US$ 220 million for the Assiut (El-Walidia) thermal power plant development in Egypt.
In addition, the West African Economic & Monetary Union – which comprises Benin, Burkina Faso, Cote d’Ivoire, Mali Niger and Guinea Bissau, Senegal and Togo – received US$ 87.5 million towards a rural water supply and sanitation programme, as well as US$ 58.2 million to upgrade the Dedougou-Tougan road in Burkina Faso.
Further funding of US$ 20 million was approved to support a rural electrification expansion project in Barisal Division in Bangladesh, as well as US$ 20 million for contributing to the completion of the extension of the Bamako-Senou International Airport in Mali.
The remaining funds supported health and education projects.
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