IsDB and IFAD mobilize funds for African infrastructure and food security

Major international financial institutions are launching large-scale investments to bolster infrastructure and food security across Africa.

The Islamic Development Bank (IsDB) has signed several key agreements in Bangkok to support regional development. In Cameroon, approximately €212.35 million (CFAF 139.2 billion) will be used to rehabilitate the strategic Douala-Bafoussam road corridor, a project intended to link economic hubs with agricultural production areas. In Benin, the IsDB is providing €326.06 million for two major initiatives: the modernization of the Godomey-Ouidah-Hillacondji road corridor to improve regional trade and a €19.17 million project to promote sustainable legume-based agriculture to enhance food security and climate resilience.

On a broader scale, the IsDB and the International Fund for Agricultural Development (IFAD) have entered a new cooperation agreement to mobilize up to US$750 million. This partnership aims to transform rural economies and strengthen food systems through investments in agribusiness value chains, market access, and climate adaptation. Additionally, the World Bank and IFAD have reinforced their partnership to scale up joint investments in rural transformation and food systems globally.