IsDB approves US$20m loan for rural electrification project in Togo

Islamic Development Bank Group

TOGO – The Islamic Development Bank (IsDB) has approved a €17.38 million (US$20.11m) loan for rural electrification project in Togo that relies mainly on solar mini-grids provided by private companies. The Islamic Development Bank (IsDB) financing was approved at its 342nd Board of Directors meeting in Jeddah, Saudi Arabia. It is a loan of €17.38 million (US$20.11m) for the electrification of rural areas of Togo through small autonomous solar power plants, connected to mini-grids. These solutions are particularly appropriate for rural areas where the extension of the national electricity grid…

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IsDB, BADEA to co-finance development projects in Africa

Islamic Development Bank Group

AFRICA – The Islamic Development Bank (IsDB), and the Arab Bank for Economic Development in Africa (BADEA) have signed an agreement aimed at boosting co-financing of development projects in common member countries in Africa. The agreement is part of IsDB efforts to renew its partnership with development institutions at a time when the world is facing unprecedented socio-economic challenges caused by COVID-19 pandemic. In the past ten years, IsDB and BADEA have co-financed more than a dozen projects in Ivory Coast, Guinea, Gambia, Sierra Leone, Mali, Senegal, Chad, Niger, Togo…

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IsDB, ICD partner with MEBF to address issues faced by women entrepreneurs

BURKINA FASO – The Islamic Development Bank (IsDB) Group and its private sector development arm, the Islamic Corporation for the Development of the Private Sector (ICD), have joined hands with the government of Burkina Faso, through Maison de l’Entreprise du Burkina Faso (MEBF), to implement the Business Resilience Assistance for Value-adding Enterprises (BRAVE Women) Project in the country. This BRAVE Women Burkina Faso project falls under the sponsorship of the Women Entrepreneurs Finance Initiative (We-Fi), a collaborative partnership among fourteen donor governments (including Saudi Arabia), eight multilateral development banks (including…

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