The IsDB Group committed bns in development financing yesterday, with USD 3 bn for Algeria over the next three years, as well as as EUR 2 bn funding over five years headed Senegal’s way.

#1- Algeria to receive over USD 3 bn from IsDB: The Islamic Development Bank (IsDB) announced to a cooperation framework with Algeria, committing over USD 3 bn in development financing for vital projects in the country over the next three years, state news agency SPA reports.

Use of funding: The financing, which was announced yesterday during the IsDB Group’s annual meetings in Algiers, will support railway development, alongside projects in infrastructure, health, and renewable energy, said IsDB Group Chairman Muhammad Al Jasser.

ICYMI- The Islamic Development Bank (IsDB) raised USD 1.75 bn in its first global sukuk sale of 2025 in March, part of its USD 25 bn Trust Certificate Issuance Program, pushing its total issuance volume beyond USD 50 bn with broad investor participation from regions including the Middle East, Europe, Asia, and offshore US accounts.

#2- Senegal secures EUR 2 bn ITFC funding for sustainable development: The International Islamic Trade Finance Corporation (ITFC) — an IsDB group member — has signed a five-year framework agreement with the Republic of Senegal valued at EUR 2 bn, SPA reported separately. The funding is dedicated to financing sustainable development across Senegal’s various economic, health, and cultural sectors and projects.

REMEMBER- Early this year, the IsDB pledged USD 4.7 bn for the Mission 300 initiative, which aims to accelerate the deployment of electricity across Sub-Saharan Africa to 300 mn people by 2030.

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