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IDB approves USD 1.44 bln funds for projects in member states

JEDDAH, July 2 (KUNA) -- The Islamic Development Bank (IDB) on Sunday announced that its Board of Executive Directors endorsed new funds to carry out some projects totaling approximately USD 1.44 billion in member states.
Following the board meeting, the bank said in a statement that the new funds included projects in the areas of electricity, sharing expertise, water, sewage, industry, housing, telecommunications, agriculture and health as well as education and health projects for some Muslim societies, which are non-IDB member states.
It added that the meeting discussed organizational and administrative preparations associated with the 24nd meeting held in Jeddah last May.
The conferees also reviewed "Qatar's strategic partnership with the IDB group," it said, adding that the board approved financing development projects in Cote d'Ivoire, Lebanon and Burkina Faso totalling USD 30 million, USD 24.1 million and USD 102.8 million respectively.
The bank also okayed a sum of USD 135.14 million for developing an industrial zone in the Sultanate of Oman, and an amount of USD 108.26 million to carry out a housing project in the Republic of Bangladesh, the statement noted.
It also endorsed USD 28 million for agricultural projects in Jordan and a sum of USD 83.3 million for a healthy project in Turkey, it pointed out.
Meanwhile, the board approved some funds to carry out projects in some Muslim countries, which are non-IDB member states. (end) nsa.hm