Saudi Arabia (Jeddah) - The Islamic Development Bank (IDB) approved today the financing of US$ 511 Million for projects that included three mega projects namely, the US$ 222.70 Million Tirana-Elbasan Road in Albania, the US$ 107.81 Million Schools Development Program in Turkey and the US$ 95 Million Grain Steel Silos in Pakistan.
IDB statement said that the approved financing also included a package amounting to US$ 250 Million as grant dedicated to rendering the required technical assistance and supporting investments in IDB member countries for creating job opportunities for the youth, alleviating poverty, financing SME projects and capacity building.
The bank further approved a technical assistance grant for the preparation of non-oil export strategy for GCC member countries as well as grants from the WAQF Fund for different programs to be implemented for Muslim Communities in non-member countries including Ukraine, India, Tataristan and United States.
The projects approved included US$ 30.8 Million for Water Distribution Network Upgrading Project as well as construction of National Cardiac Center in Nouakchott, Mauritania; US$ 21 Million for Sana’a Water Supply Enhancement Project, Yemen, and US$ 500,000 for Establishment of phase I of a Children Care Center in Addis Ababa, Ethiopia, (IDB Waqf Fund); US$ 219,000 for Expansion of Al-Munawwara Islamic School Building, Davao City, Philippines, (IDB Waqf Fund).
Source: http://www.english.globalarabnetwork.com/GCC-Business/saudi-arabia-islamic-development-bank-approves-511-million-for-mega-projects.html
IDB statement said that the approved financing also included a package amounting to US$ 250 Million as grant dedicated to rendering the required technical assistance and supporting investments in IDB member countries for creating job opportunities for the youth, alleviating poverty, financing SME projects and capacity building.
The bank further approved a technical assistance grant for the preparation of non-oil export strategy for GCC member countries as well as grants from the WAQF Fund for different programs to be implemented for Muslim Communities in non-member countries including Ukraine, India, Tataristan and United States.
The projects approved included US$ 30.8 Million for Water Distribution Network Upgrading Project as well as construction of National Cardiac Center in Nouakchott, Mauritania; US$ 21 Million for Sana’a Water Supply Enhancement Project, Yemen, and US$ 500,000 for Establishment of phase I of a Children Care Center in Addis Ababa, Ethiopia, (IDB Waqf Fund); US$ 219,000 for Expansion of Al-Munawwara Islamic School Building, Davao City, Philippines, (IDB Waqf Fund).
Source: http://www.english.globalarabnetwork.com/GCC-Business/saudi-arabia-islamic-development-bank-approves-511-million-for-mega-projects.html
