Bahrain has signed key financing agreements with Islamic Development Bank (IsDB) for the King Faisal Highway Development Project and the Salman Industrial City Expansion Project, in addition to a framework agreement between the two sides on the sidelines of the 2026 Annual Meetings of the Islamic Development Bank Group in Baku, Azerbaijan.
The agreements were signed by Yusuf Abdulla Al Humood, the Undersecretary for Financial Affairs at the Ministry of Finance and National Economy, and Dr. Rami Ahmed, the Vice President for Operations at IsDB.
Al Humood said the agreements align with Bahrain's efforts to continue implementing strategic projects in vital infrastructure sectors.
Under the first agreement, the IsDB will provide $180 million to finance the King Faisal Highway Development Project.
The scope of work includes upgrade of the 4.1-km-long corridor between Al Farooq Junction and Al Fateh Junction into a fully free-flowing route through the construction of three concrete tunnels with a total length of 1.93 km and a 0.58-km bridge.
The project also includes the expansion and rehabilitation of 32 lane-kilometres, incorporating improvements to stormwater drainage networks, lighting systems and urban landscaping to enhance mobility and reduce traffic congestion in central Manama.
On the second agreement, Al Humood said it had secured $330 million in funding for the Salman Industrial City Expansion Project.
The project aims to reclaim around 1 million sq m of coastal land and develop 800,000 sq m of fully serviced industrial plots within the city.
The works include the construction of internal roads, water and sewerage networks, and the installation of three main and sub high-voltage electricity substations, he stated.
The projects represent a strategic priority aimed at developing productive and sustainable infrastructure and enhancing the capacity and competitiveness of the kingdom's industrial and logistics sectors, contributing to economic growth and sustainable development, he added.-TradeArabia News Service
