Islamic Development Bank (IsDB)
In 2020-2021, in response to the COVID 19 pandemic, Islamic Development Bank (IsDB) have committed at least USD 21.33 million to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:
- At least USD 21.33 million for fossil fuels without conditions
By energy type, Islamic Development Bank (IsDB) committed at least USD 21.33 million to oil and gas (at least USD 21.33 million to unconditional oil and gas).
Finally, no public finance identified for multiple fossil fuels.
A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.
Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.
At least
$21.33 million
Supporting fossil fuel energy
At least
$0
Supporting clean energy
Islamic Development Bank (IsDB)
In 2020-2021, in response to the COVID 19 pandemic, Islamic Development Bank (IsDB) have committed at least USD 21.33 million to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:
- At least USD 21.33 million for fossil fuels without conditions
By energy type, Islamic Development Bank (IsDB) committed at least USD 21.33 million to oil and gas (at least USD 21.33 million to unconditional oil and gas).
Finally, no public finance identified for multiple fossil fuels.
A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.
Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.
Public money commitments to fossil fuels, clean and other energy in Islamic Development Bank (IsDB) recovery packages, USD billion, in 2020-2021
MDB | Recipient Country | Category | Policy name | Sector | Energy Type | Mechanism | Value committed, USD | Date of announcement | Policy type | Sub-Institution or Programme | Receiving entity | Stage | Arm of Government | Primary and secondary stated objective of the policy | Policy background | Links to official sources | Links to additional sources | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Islamic Development Bank (IsDB) | Bangladesh | Fossil unconditional | Feni Oil-Fired Power Plant (114MW) IPP | Resources | Oil and oil products | Loan (Hybrid),loan guarantee (... | 21330000 | 13/11/2020 | Fiscal | Lakdhanavi | Electricity generation | Government | The financing is for the 114MW Feni oil-fired plant in Chattogram, Bangladesh. NOTE: The financing is being provided through the Islamic Corporation for the "Development of the Private Sector" program. | https://ijglobal.com/data/transaction/48897/feni-oil-fired-power-plant-114mw-ipp Accessed 28 January 2021. |