Sat Sep 23 2017, 5:06:24 +03

IDB approved new loans worth more than $814 million to member states

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(Jeddah-AlummahWorld, Dhul-AlHijjah 28, 1435, 22 Oct 2014) The Council of Executives of the Jeddah-based Islamic Development Bank group (IDB) approved new loans worth more than $814 million to member states to finance projects in the transport, energy, water, roads and human development fields as well education and vocational training in Islamic communities in non-Muslim countries. The approval was made on Tuesday.


The loans, which differ in amount according to the size of the project, went to Egypt, Lebanon, Burkina Faso, Benin, Niger, Algeria, Nigeria, Bangladesh, Uzbekistan, Sierra Leone, and Islamic communities in Austria, Ethiopia, Germany, Guiana and Sri Lanka.


According to KSA media reports, IDB new budget worth of $5.1 billion was also approved in the meeting.