The Islamic Development Bank (IsDB) Board of Executive Directors Sunday approved, at the opening of Annual meetings in Tunis, $184 million (roughly 440 MD) in contribution to funding a number of development projects in Tunisia.
A financial contribution of $150 million is earmarked for a transfer of electric energy project.
This project will help double electric energy transfer, meet growing demand and add an average 210 km of electro-power transfer lines which will enhance the capacity of the Tunisian Company for Electricity and Gas (French: STEG) to secure continuous electricity supply.
Additionally, the IsDB will commit an amount of $33.6 million for building two regional hospitals in Thala (governorate of Kasserine) and Dahmani (governorate of Kef).
Modern medical equipment will also be provided which will help improve healthcare services in Tunisia’s mid-west.
IsDB Board of Executive Directors, which met under the chairmanship of President of the bank Bandar bin Mohammed Hajjar, also announced a grant of $280,000 to identify programs and feasibility studies aimed to foster the economic and social integration of border area populations.
An additional grant ($280,000) was also approved to conduct studies relating to moving the cellulose factory from the city of Kasserine to another site far from urban areas.
The IsDB Annual Meetings started Sunday in Gammarth, Tunis northern suburbs, and will run till next April 5.
This includes the 43rd Annual Meeting of the Board of Governors, the 25th Annual Meeting of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Board of Governors, the 11th Meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISFD), the 18th General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD) and the 13th General Assembly of the International Islamic Trade Finance Corporation