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Developmental projects worth $863 million will be financed by the Islamic Development Bank

Jeddah -The Islamic Development Bank has approved finances worth US$863 million for developmental projects in a number of member countries during its 316th meeting here, Saudi Press agency reported

Out of this sum, $208 million goes to road projects in the Republic of Guinea; $170 million for the third phase of a solar generation project in the United Arab Emirates; $105 for an Aluminium company in Bahrain; $94 million for a rural development project in Morocco; $92.3 million project for combating malaria in Senegal; $91.5 million for roads rehabilitation project in Togo; $60 million for establishing and equipping a public hospital along the Atlantic coast in Djibouti; a loan worth $8 million to finance a solar generation in Chad; $5 million for power generation project in Jordan; and $4 million for power generation in Mali.

Furthermore, the Jeddah-based bank approved a $16 billion budget for the period 2017 – 2019.

[Source: Emirates News Agency/WAM/tfaham-Media Relations]

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