IsDB to finance $3bn in 20 socio-economic projects across 17 countries

The projects reflect IsDB’s commitment to inclusive development, aimed at strengthening resource management and promoting shared prosperity across member countries. Shutterstock
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Updated 15 October 2024
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IsDB to finance $3bn in 20 socio-economic projects across 17 countries

  • Initiatives target key sectors such as agriculture, water resources, and energy, as well as health care and infrastructure

RIYADH: The Islamic Development Bank is set to finance over $3 billion for 20 socio-economic development projects across 17 member nations, following its 357th board meeting chaired by President Muhammad Al-Jasser.
These initiatives target key sectors such as agriculture, water resources, and energy, as well as health care and infrastructure to strengthen resilience and promote sustainable growth.
In Kazakhstan, $1.15 billion will support water resources development, improving agricultural output and ensuring food and water security.
Jordan has been allocated $200.3 million to bolster food security by expanding strategic reserves. 
Kyrgyzstan will receive $45.11 million for agricultural mechanization to aid smallholder farmers, along with an additional $58.25 million to enhance energy infrastructure in the Issyk-Kul region.
Senegal is set to receive €65.1 million ($70.96 million) to accelerate agricultural industrialization.
Togo has been granted €55.23 million to foster income-generating activities and improve the livelihoods of vulnerable populations.
Azerbaijan has been allocated $96.73 million for water resource management to support agriculture and food security, and the Maldives has been allotted $64.65 million to expand its fishing industry.
Morocco was allocated €441.82 million for a hydropower project to meet peak demand with renewable energy.
Gambia will receive $40 million to improve its transport sector, and Sierra Leone has been assigned €70.32 million to enhance infrastructure through soil stabilization technology.
Comoros will benefit from $15 million to improve maritime connectivity and safety. Uzbekistan will acquire $138.8 million to expand a key road, improving traffic flow and safety, while Cameroon has been awarded $176.3 million to upgrade its transport infrastructure.
In Turkiye, €246.4 million will support the Eastern Turkiye Middle Corridor Railway Project, with an extra $100 million allocated to post-earthquake recovery efforts to enhance productivity. 

Pakistan will receive $118.4 million to reduce poverty and improve food security in vulnerable communities.

Mozambique has been allocated $19.8 million to strengthen health care access, while Cote d’Ivoire has been granted €260 million ($278.2 million) to support highway construction for regional integration and agriculture. 

Al-Jasser said that these initiatives align with the IsDB’s goal of fostering sustainable economic growth, enhancing infrastructure, and integrating regional economies.

The bank also approved a $10 million grant in collaboration with the World Health Organization to support global health care initiatives. 

The projects reflect IsDB’s commitment to inclusive development, aimed at strengthening resource management and promoting shared prosperity across member countries.


Qatar sees 81% surge in venture capital investment in 2025 

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Qatar sees 81% surge in venture capital investment in 2025 

RIYADH: Venture capital investment in Qatar rose 81 percent year on year in 2025 to 214 million Qatari riyals ($58 million), new figures show. 

The annual venture capital report, issued by Qatar Development Bank in collaboration with research platform MAGNiTT, highlights the Gulf state’s growing role as an attractive investment hub in the Middle East and North Africa region. 

It indicated that venture activity in 2025 was concentrated in early-stage deals, which accounted for 61 percent of total investment value. 

This supports Qatar’s startup strategy aimed at building a knowledge-based economy, diversifying away from hydrocarbons, and achieving between 2 and 4 percent gross domestic product contribution from startups by 2033.  

The strategy includes fostering innovation, creating 40,000 new jobs, and establishing Doha as a regional hub for fintech, artificial intelligence, sports tech, and sustainability. 

Abdulrahman bin Hisham Al-Suwaidi, CEO of Qatar Development Bank, said: “At QDB, we continue our leading enabling role in venture capital in Qatar. Our direct and indirect investments and commitments through our investment arm have reached approximately 390 million riyals since its inception.”  

He added: “We are also proud of the remarkable progress achieved by the private sector, whose participation, alongside international investors, constituted 86 percent of the total value of venture capital investments in the country.” 

The CEO said QDB will continue strengthening Qatar’s regional and international standing as a destination for global investors and funds, supporting increased investment in priority sectors in line with the Third National Development Strategy 2024–2030.  

Qatar ranked fourth in the Middle East and North Africa region in both deal count and total venture funding in 2025, representing about 5 percent of regional transactions, the report said. QDB’s investment arm was the country’s most active investor, participating in 11 of 33 recorded deals. 

Fintech was the busiest sector by volume, accounting for 33 percent of transactions, up 22 percent from a year earlier, reflecting the impact of initiatives led by the Qatar Fintech Hub. Transport and logistics attracted the largest share of capital, raising 80 million riyals, a 716 percent increase driven by a small number of large transactions. 

Philip Bahoshy, CEO and founder of MAGNITT, said: “The report demonstrates the significant progress made by the venture capital sector in Qatar during 2025, highlighting the remarkable development Qatar is witnessing annually within the regional and global investment and entrepreneurial community.” 

He added: “This progress is evident both in terms of data and through the large-scale specialized events hosted by the country, most notably the Web Summit. QDB’s role in this regard is undeniable, as it has played a major role in supporting the venture capital ecosystem in Qatar.”