(Ecofin Agency) - • The Islamic Development Bank will provide Algeria with $3 billion over three years.
• Funds will support development projects including expansion of the national rail network.
• The announcement was made during the IsDB’s 2025 annual meetings in Algiers.

The Islamic Development Bank (IsDB) will allocate a total of $3 billion to Algeria over the next three years to finance large-scale development projects, including infrastructure upgrades aimed at improving national economic connectivity. The announcement was made on May 19 by Muhammad Sulaiman Al Jasser, president of the IDB, during the institution’s annual assemblies held in Algiers.

Speaking to Ennahar TV, Al Jasser confirmed that part of the funding will go toward the expansion of Algeria’s rail network, a key component of President Abdelmajid Tebboune’s economic strategy to link various industrial and commercial zones across the country.

The IsDB's 2025 assemblies, held from May 19 to 22 under the theme “Diversification of the economy, enrichment of life,” gathered delegations from the bank’s 57 member countries, all part of the Organization of Islamic Cooperation (OIC). The IsDB is headquartered in Jeddah, Saudi Arabia.

In addition to its Algeria commitment, the bank also announced the approval of $1.32 billion in total financing for other member states. These funds are intended to foster inclusive growth, climate resilience, and economic opportunity across multiple regions.

Among the funded initiatives are the rehabilitation of a road in Cameroon, the construction of a national cancer treatment center in Djibouti, and the modernization of 302 kilometers of roads and 61 kilometers of rail lines to improve cross-border infrastructure between Mali, Niger, Ghana, and Côte d’Ivoire.