The Islamic Development Bank (IsDB) Board of Executive Directors approved about US $2.41 billion in new financing for development projects at its 364th meeting in Jeddah, Saudi Arabia, officials said. The approvals cover investments across energy, transport, industrial development, and water‑related initiatives.
Among the funding allocations, US $160 million was designated to support utilities, water, and urban development in Jordan. The financing is intended to help secure future drinking water supplies for several populated regions including Aqaba, Amman and areas to the north. According to the bank, part of the objective is to support adaptation and mitigation efforts related to climate risks and to encourage private sector involvement in the water sector. The bank’s statement noted that the funding is also aimed at long‑term solutions to address water shortages in Jordan.
In Azerbaijan, the bank approved US $436.67 million for an agricultural productivity project that includes components aimed at reducing losses in irrigation water. IsDB said the measure is aligned with the country’s long‑term development vision and is expected to support rural development, strengthen climate resilience and contribute to food security.
The wider financing package also included funds for electricity transmission and trade in Tajikistan, infrastructure upgrades in Senegal, industrial zone development in Kazakhstan, and industrial expansion in Bahrain.
