IsDB Signs Agreements Worth Over $1 Billion with Several Member Countries

Algiers: The Islamic Development Bank (IsDB) today signed in Algiers several financing agreements with member countries, along with memoranda of understanding with international institutions, totaling more than $1 billion. According to Saudi Press Agency, the agreements aim to finance various projects in the areas of sustainable development and combating the effects of climate change in Africa and Asia, in addition to developing infrastructure and improving healthcare. The third day of the IsDB Group's annual meetings held in Algeria witnessed the signing of several agreements by IsDB Group President Dr. Muhammad Al Jasser, totaling $1 billion. The agreements reflect the IsDB Group's commitment to its development role and its ongoing efforts to provide innovative and comprehensive financing solutions that respond to development challenges and meet the requirements of economic and social transformation in its member countries.