Arab News, Mon, Jul 01, 2024 | Dhu al-Hijjah 25, 1445
IsDB approves $369m for development projects in Turkiye, Turkmenistan, and Suriname
Saudi Arabia:
New development projects in Turkiye, Turkmenistan and Suriname will receive a
significant boost with a $368.98 million financing package sanctioned by the
Islamic Development Bank.
The financing includes $165 million to enhance
inclusive, equitable and quality education in Turkiye.
Another $156.3 million will support Turkmenistan
in improving access to high-quality oncology services. Additionally, $47.68
million has been earmarked to bolster Suriname’s power transmission and
distribution network, according to a statement.
Approved by IsDB President and Group Chairman
Mohammed Al-Jasser, the financing aligns with the organization’s mission to
promote comprehensive human development, focusing on priority areas such as
alleviating poverty, improving health, promoting education, enhancing governance
and fostering prosperity.
The projects aim to foster sustainable development
and socio-economic growth across IsDB member countries.
Al-Jasser highlighted the impact of the financing
in improving transportation, health, education and energy.
The education-focused Turkiye project will see the
construction and operationalization of green, resilient and sustainable schools
in earthquake-affected and earthquake-prone areas.
It includes the construction of 33 schools, adding
808 classrooms and benefiting 24,640 students per year, enhancing disaster
resilience for more than 319,206 people.
Three oncology centers will be built in
Turkmenistan and healthcare providers will be trained.
The project will improve cancer treatment for
11,750 patients annually, significantly reducing cancer incidence and mortality
rates.
The construction of power transmission and
distribution networks in Suriname aims to eliminate bottlenecks, boost capacity
and improve system performance.
It will connect 4,350 new households and 470
commercial units to the grid, meeting increasing national electricity demand and
ensuring reliable power supply.
In March, energy and infrastructure projects in
Nigeria and Malaysia received a funding boost following the approval of $225
million in IsDB financing.
The developments focused on socio-economic
progress and sustainability across key sectors.
Nigeria was provided with a $125 million financing
package supporting the Abia State Integrated Infrastructure Development
Project.
The second package targeted the Pengerang Energy
Complex in Malaysia with a $100 million investment under the bank’s
public-private partnership program.