IsDB: $176m for four projects across four countries

Cotonou across the water

Roads, storm drainage, a gas pipeline design study and food silos get go-ahead.

The Islamic Development Bank (IsDB) has marked its latest board meeting with the announcement of funding for four projects across Iraq, Mauritania, Benin, and Morocco.

Atar-Chinguetti Road Project, Mauritania
Construction of Atar-Chinguetti Road project with $33m to help improve the efficiency and security of transport services between Atar and Chinguetti. By reducing costs and journey times by half, the project is a continuation of long-standing work to improve transport infrastructure in Mauritania. It also complements a previous road project between Atar and Tijikja, which was successfully completed in 2020.

Cotonou Storm Water Drainage, Benin
A $105.6m project to reduce the risk of flooding in large areas of the capital, Cotonou, by building 13km of drainage collection channels and paving 16km of roads in order to support the existing drainage systems. The project will benefit 150,000 people.

Nigeria-Morocco Gas Pipeline, Morocco
A $15.45m investment in a front-end engineering design study for the Nigeria- Morocco Gas Pipeline project. This will secure the necessary studies for the gas pipeline and will help to make the final investment decision for the infrastructure project. It includes an agreement with all countries crossed by the gas pipeline regarding in order to ensure the smooth implementation of works in the advanced stages, and to ensure that the project complies with all local and international environmental and social regulations and standards.

Wheat Storage Silos, Iraq
A $22m project to construct metal silos for the storage of wheat in the Maysan. The project will help to enhance food security by increasing the strategic wheat reserve in Maysan and wider Iraq, which is one of the country’s top priorities and is expected to help reduce malnutrition among vulnerable groups, including children.

Alongside agreeing finance for four projects, the board formally noted that IsDB has been awarded AAA rating for the 14th year by Fitch Ratings,