BAKU, Azerbaijan, April 6. The Board of Executive Directors of the Islamic Development Bank (IsDB), chaired by President Dr. Muhammad Al Jasser, has approved $384.28 million in new financing to advance key development initiatives across member countries, TurkicWorld reports via the Bank.
The newly approved funding underscores the Bank’s continued focus on addressing urgent development challenges while promoting long-term resilience and sustainable economic growth.
A total of $75 million has been allocated to the Response, Recovery, and Resilience (3R) Facility, which targets 32 fragile and conflict-affected member states impacted by natural disasters. The financing package includes $30 million from IsDB’s Ordinary Capital Resources (OCR) and $45 million from the IsDB Concessional Fund (ICF), to be disbursed over five years with additional support from development partners. The facility aims to provide rapid emergency financing, support recovery efforts, and strengthen preparedness and early warning systems.
In Mauritania, the Board approved $59.28 million for a rural electrification project aimed at expanding access to affordable and sustainable electricity across several regions, including Adrar, Assaba, Inchiri, Brakna, Hodh El Chargui, Hodh El Gharbi, and Tagant. The financing comprises $25.35 million from IsDB and $33.93 million from the ICF. In addition to infrastructure development, the project includes the installation of 10 multifunctional energy platforms managed by local women’s cooperatives, designed to support micro-enterprises and improve livelihoods in vulnerable communities.
Both the Mauritania project and the 3R Facility mark the first deployment of resources under the IsDB Concessional Fund since its operational launch in February 2026, with a strong focus on addressing fragility.
In Türkiye, the Board approved $250 million for the Sustainable Organised Industrial Zones Project, aimed at enhancing the efficiency, sustainability, and competitiveness of the country’s industrial sector. The initiative will support the development of resource-efficient infrastructure, improved waste management systems, and environmentally responsible industrial practices, contributing to lower emissions, reduced resource consumption, and job creation.
