The Islamic Development Bank announced in a statement published on Monday 3 July, having approved several loans for a total amount of $452.9 million (398.68 million euros) to African countries, in order to finance development projects in the production of electricity or water supply.
Gathered on Sunday 2 July, members of the Board of Directors of the Islamic Development Bank (IDB) have approved a few 1096,4 million dollars in loans, of which 452.9 million toward the African continent. In detail, the IDB approved a loan of $102.8 million for the strengthening of the power of Kossodo, Ouagadougou, Burkina Faso and a loan of $165.4 million for the rehabilitation and strengthening of the Sirakoro, Mali.
The financial institution also has approved a loan of $115.6 million to contribute to the development of two solar power projects in Egypt, one of them developed by Scatec Solar.
In addition to energy, the IDB is also valid on the loan of $53.71 million to strengthen the chain of value and agricultural infrastructures in Cameroon, and a loan of $15.4 million for a water supply project in the rural areas of the region of N’zerekore in Guinea.
African tour for the IDB
in January 2017, the IDB held an African tour in Senegal and Guinea, where he had signed numerous agreements on funding for a total of about 300 million, of which $92 million to Senegal and 200 million to Guinea.