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Sierra Leone is set to benefit from a €70.32 million (approximately US$72.29 million) investment aimed at boosting socio-economic development through soil stabilization technology.
This initiative is designed to improve access to essential social and economic infrastructure and promote regional integration.
The funding comes as part of a larger commitment by the Islamic Development Bank (IsDB), which has approved over US$3 billion for 20 development projects across 17 member countries.
These projects target critical sectors such as transport, energy, agriculture, water resources, food security, health, and social development, in line with the IsDB’s focus on resilience and sustainability.
IsDB President H.E. Dr. Muhammad Al Jasser, during the 357th Board meeting on October 14, 2024, emphasized the transformative potential of these projects, particularly in infrastructure development and economic integration aligned with national priorities.
In addition to Sierra Leone, other countries will receive substantial funding. Kazakhstan has been allocated US$1.15 billion for climate-resilient water resource initiatives, Jordan will receive US$200.3 million to strengthen food security, and Morocco has secured €441.82 million for a hydropower project. Further commitments include US$118.40 million for poverty alleviation in Pakistan and US$40 million for transport sector growth in The Gambia.
This funding highlights the IsDB’s commitment to promoting sustainable economic growth and equitable prosperity across its member nations while addressing both immediate developmental needs and long-term resilience.
