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Abia State to get $125 million from Islamic Development Bank for roads 



Alex Otti11

The Islamic Development Bank (IsDB) has earmarked $125 million to facilitate the Abia State Integrated Infrastructure Development Project.

This strategic initiative, revealed in a statement by the IsDB, is part of a broader $225 million funding approval designed to propel new development ventures. 

Chaired by the esteemed H.E. Dr Muhammad Al Jasser, President and Group Chairman of IsDB, the bank’s 354th meeting of the Board of Executive Directors saw the green light given to two pivotal projects aimed at fortifying socio-economic growth and sustainability in critical sectors. 

The $125 million allocation for Nigeria is poised to significantly reduce travel times and costs on major roadways, concurrently enhancing market accessibility and social services for the local populace. 

Emphasising inclusivity, the project promises to bolster mobility for all residents, prioritising safe and accessible transport options, notably for vulnerable community segments. 

The statemen read: 

The IsDB also approved a $100 million investment in Malaysia’s Pengerang Energy Complex Project (PEC) under its Public Private Partnership programme. This endeavour seeks to establish a cutting-edge, energy-efficient aromatics complex within the Pengerang Integrated Petrochemical Complex (PIPC) in Johor, Malaysia.  

The project aims to enrich Malaysia’s downstream oil and gas sector and catalyse economic expansion and job creation in Johor, particularly benefiting its designated petrochemical zone.