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IsDB Approves US$ 2.12 Billion for Development Projects in Member Countries

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Outgoing board members

The Board of Executive Directors of the Islamic Development Bank (IsDB), today, approved US$ 2.12 billion to finance new development projects in member countries.

Chaired by IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, the 353rd board meeting approved 16 projects that support socio-economic development and promote sustainability in member countries in key strategic sectors such as transport, energy, health and education, in addition to youth development/entrepreneurship-employment.

In his remarks, the IsDB President highlighted the significance of the approved projects, and their transformative impacts on improving transportation, health, education, and energy, as well as fostering regional economic integration.
Dr. Al Jasser told the Board members that IsDB is working to deepen the Sukuk (Islamic bonds) market to enable the Bank to finance more projects, be they green, sustainability, or ordinary Sukuk.

Top among the approvals is IsDB’s EUR 803.3 million (US$ 845.57 million) financing to Indonesia to contribute to “Strengthening Indonesia’s Health Care Referral Network Project”. The objective of the project is to enhance the physical and service capacity of the health referral system in Indonesia, ensuring that everyone has equal access to quality healthcare services in all districts, cities, and provinces.

The IsDB Board also approved financing of EUR 187.84 million (US$ 204.00 million) to Morocco for the “Construction of Guercif-Nador Highway Project” in the Kingdom of Morocco. The project aims to contribute to improving the connectivity of the Oriental region and the Nador West Med port complex by completing the construction 104 km of highway including 17 bridges and 53 flyovers by 2029.

Also, among the key approved projects are IsDB’s financing contribution of EUR 136.86 million (US$ 144.00 million) to Burkina Faso and US$ 106 Million to Uganda to improve the living environment of the populations and support the transport sector in the two beneficiary countries.

Additionally, the Board approved the following projects:

EUR 55 million (US$ 58.0 million) to the Republic of Mali to help enhancing the country’s electricity transmission grid via modernization and expanding of the high voltage transmission infrastructure;

Euro 64.30 million (US$ 70.0 million) for the Republic of Chad and EUR 25.24 million (US$ 27.13 million) to the Republic of Togo to support the higher education sector in these two African member countries.

US$ 16.90 million in slums Upgrading and Integrated Urban Development Project in Bouloas, Djibouti to improve the livelihoods of people living in slum areas through developing basic economic infrastructure.

US$ 79 million to improve access to affordable, resilient, and energy-efficient housing for the underserved population, as well as to support the Shariah mortgage development in the Kyrgyz Republic.

US$ 40.00 million to contribute towards supporting sustainable and green economic transformation of the Maldivian economy through improved access to Islamic finance while embracing social and environmental responsibilities.

US$ 200 million to deliver beneficiary‐driven, multi‐hazard resilient, reconstruction of core housing units to the populace affected by the 2022 floods in Sindh province in Pakistan.

US$27 million to improve the quality of life of the people living along the project road as well as contribute to the development of the international transit traffic potential of Tajikistan.

The IsDB Board approved US$ 300 million in financing for two projects for Türkiye earthquake-affected areas:

US$100 million to support the economic recovery of earthquake-affected industrial firms in various sectors and thereby contribute to enhancing the resilience of productivity and economic growth of the country.

US$ 200 million to support Türkiye’s efforts towards the rapid delivery of health facilities and services to improve the quality of life of the earthquake-affected population.

Furthermore, the IsDB Board reviewed several technical reports including the progress report of the IsDB Group Food Security Response Program (FSRP) which aims at supporting member countries in better averting the ongoing food crisis and further strengthening their resilience to future food security shocks. The Board was also updated on “Various Initiatives to Enhance IsDB’s Products and Services”.

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Mega City: Gov. Yusuf Lays Foundation of 15 Billion Naira Inter Change Bridge in Kano

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Gov. Abba Kabir Yusuf of Kano State, State Commissioner of Works and Housing Engr. Marwan Ahmad and Project Manager, CGC Nigeria Limited Mr. Gee Wang during the foundation laying of N15 billion naira three layer inter change bridge at Kofar Dan'agundi in Kano on Dunday 5th May, 2024

 

Governor Abba Kabir Yusuf has layed a N15 billion three layer Interchange bridge at Kofar Dan’agundi in Kano metropolis as part of vision to enhance traffic flow in the ancient city.

The governor who visited the project site on Sunday in company of some cabinet members, affirmed his administration’s eyesight to transform the city centre to status of a mega city.

Recall that Governor Yusuf in December, 2023, awarded the multi-billion naira project to CCG Nigeria Limited with completion period of eighteen months. The multiple projects was awarded along side another high impact interchange bridge at Talidu roundabout also in the city centre, to ease traffic congess.

“We have created fordable alternative routes and motorists are expected to comply with rules for safety and allow the project operation to run smoothly”

Gov. Abba Kabir also layed the foundation of a similar project at Tal’udu roundabout worth 12 billion naira which was initially awarded same time with three layer overpass, underpass and surface layer roads.

In a statement by the Governor’s Spokesperson Sanusi Bature, Infrastructure development is a critical area of the present administration where Gov. Yusuf allocate more resources apart from the education sector.

While responding after the foundation laying ceremony, The Project Manager CGC Nigeria Limited Mr. Gee Wang and the commissioner of works and housing Engr. Marwan Ahmad said in a saparate addresses that the project will be completed within the time frame.

 

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Dangote Cement Hosts NISS Team At Obajana

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The Plant Director of the Dangote Cement Plc Obajana, Mr. Azad Nawabuddin, has hosted members and students of the National Institute of Security Studies (NISS), Abuja.

The Executive Intelligence Management Course (EMIC) 17 was on study tour of the Cement Plant as part of overall study tour of Kogi State.

Welcoming the team, the Plant Director expressed appreciation to NISS and the study Anchor for deeming it fit to consider visiting the Plant in the spirit and letters of the theme of the study tour “Artificial Intelligence, Security and Emerging Economies in Africa: Challenges and Prospects.”

The Plant Director congratulated the visiting team on being enlisted for the course and wished them a successful exercise.

The team was led to the Plant by the Hon. Commissioner for Innovation, Science and Technology for Kogi State, Hon. (Dr.) Adeniyi A. Helen. Also in the team was the Programme Lead, Mr. Hyginus Ngele and the team Anchor, Dr. T. O. Fashola.

Earlier, the Programme Lead explained to the Plant Director and his team that the course is aimed at developing a core of security experts with high level of expertise in intelligence and delop their capacity to formulate and implement security policies and strategies to enhance the economic and social development of Nigeria.

He noted that the course has 92 participants with a group visiting the Plant, while others were simultaneously visiting other locations as part of the course learning process.

The students expressed their satisfaction and appreciation for the reception accorded them by Management of the Plant.

Areas of discussions include: Energy security and sharing, AI utilization in the Plant operations, environment, capacity building and CSR.

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Journalist Hit by Metal Debris from Ongoing Construction – Kano Govt

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Governor Abba Kabir Yusuf

 

The attention of Kano state government has been drawn to a one sided media report bya section of the media revealing that a journalist, with the state own Television station, attached to Government house was hit by a stray bullet.

The incident, which occurred amidst a flurry of misinformation, sparked widespread concern and speculation regarding the safety of journalists covering events at the government house.

However, the government will like to emphatically say that journalists are not under threat in Kano government house. It is however worthy of note to caution journalists to ensure credible source while reporting any development and avoid unnecessary sensational angle that can mislead the public.

For clarity purpose, Naziru Yau, the reporter of the state television station was not hit by any stray bullet.
Instead, he sustained injuries from the metal debris emanating from an ongoing construction at the Kano State Government House, an area that has been barricaded for caution.

The truth of the incident emerged when medical professionals at the government house clinic disclosed the true nature of Mr. Naziru’s injuries.

The journalist, Mr. Naziru, expressed gratitude for the prompt medical attention he received and thanked well-wishers for their concern during his recovery.

Let me emphasized the need for journalists to remain vigilant while carrying out their duties, especially in environments where construction activities pose potential hazards.

We thereby dispel any rumor that had sparked outrage and call for increased safety measures for journalists covering sensitive events.

We also need to underscores the importance of accurate reporting and thorough investigation in mitigating misinformation and maintaining public trust.

In response to the incident, Sanusi Bature the Director General Press at the Kano State Government House have assured the public of their commitment to ensuring the safety of all individuals within the premises and the state in general.

Additionally, have pledged to review and enhance existing safety protocols to prevent similar incidents in the future.

As investigations continue into the circumstances surrounding the incident, we urge the public to refrain from spreading unsubstantiated claims and to rely on verified information from credible sources.

 

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