- During the meeting, the financing of a critical energy infrastructure project was approved, and reports on the Bank’s recent performance were reviewed.
- The honourable Board members approved an amount of EUR 122.73 million (US$ 133.59 million) for the Cameroon-Chad Electricity Interconnection Project.
The Board of Executive Directors of the Islamic Development Bank (IsDB) held a meeting chaired by the Bank’s President and Group Chairman, H.E. Dr Muhammad Al Jasser. During the meeting, the financing of a critical energy infrastructure project was approved, and reports on the Bank’s recent performance were reviewed.
The honourable Board members approved an amount of EUR 122.73 million (US$ 133.59 million) for the Cameroon-Chad Electricity Interconnection Project (Cameroon Southern-Northern Networks) in Cameroon, aimed at interconnecting the north electricity system and south system, and to enable Electricity to be traded between Cameroon and Chad. The project’s key outputs are that high Voltage Transmission Lines will increase from 0.00 km in 2023 to 532.00 km in 2028, and the number of sub-stations will increase from 0.00 in 2023 to 4.00 (Each 50 MVA) in 2028. Also, Electricity transmitted from Southern to Northern Cameroon is expected to grow from a baseline of 0.00 MWh in 2023 to 522,000 MWh in 2028, and Electricity traded between Cameroon, and Chad should increase from 0.00 MWh in 2023 to 438,000 MWh in 2028.
In addition, the IsDB President presented a report on his recent official visits and participation in international and regional events where he held high-level meetings. The Board was also briefed on the current appointments of its standing committees, namely the Operations and Development Effectiveness Committee, the Finance & Risk Committee, and the Governance and Administrative Committee.