JEDDAH: The Islamic Development Bank (IDB) on Tuesday approved $772.3 million for new development projects in nine member countries. The decision was taken at a meeting of IDB's Board of Executive Directors which was chaired by group president Ahmad Mohamed Ali.
JEDDAH: The Islamic Development Bank (IDB) on Tuesday approved $772.3 million for new development projects in nine member countries. The decision was taken at a meeting of IDB's Board of Executive Directors which was chaired by group president Ahmad Mohamed Ali.
As per the decision, Indonesia, Uzbekistan, Bangladesh, Pakistan, Sudan, Turkmenistan, Gambia, Mauritania, and Albania will receive funds for a variety of projects. Five of the nine projects approved are considered as mega projects.
Besides, the board also decided to extend technical assistance in the form of grants to Benin, Chad, Togo, Sudan and countries of the Gulf Cooperation Council.
Non-member countries like Congo, Fiji, India and South Africa will receive finance for health and educational projects, says a press release issued by IDB.
Source: Arab News
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