Islamic Development Bank Targets Green Infrastructure Projects, Human Capital Development

Islamic Development Bank Targets Green Infrastructure Projects, Human Capital Development

Dr. Muhammad bin Sulaiman Al-Jasser, Chairman of the Board of Directors of the Islamic Development Bank (IsDB), said that the group was currently focusing on green infrastructure projects and human capital development, especially in light of climate challenges.

In a press conference held on Thursday to launch the three-day activities of the IsDB in Sharm El-Sheikh, Al-Jasser said the group, which has so far provided funds amounting to USD 162 billion to 57 member countries, will pump the sixth increase in its capital by about USD 7.5 billion, bringing its capital to USD 77.5 billion.

He noted that the funds would be used to support many projects submitted by the group’s member states.

Al-Jasser pointed to the group’s strategy in community development operations, saying: “The Bank Group has taken a number of measures so that the upcoming projects and partnerships are more compatible with the Bank’s strategy, with a focus on combating poverty and protecting the environment, as well as increasing infrastructure projects and human capital development…”

He revealed that the bank has approved projects worth USD 1.6 billion in December, with the increasing need to inject new investments, adding that by the end of 2022, the bank’s lending value would reach USD 5