ALGIERS, May 20 (KUNA) -- President of the Islamic Development Bank (IsDB) Mohammad bin Suleiman Al-Jaser said on Tuesday that the bank since its founding in 1999 has funded more than 575 projects in 50 countries at a value exceeding USD 7.5 billion -- covering sectors of enegry, industries and agriculture.
Al-Jaser, addressing the Private Sector Forum held as part of the IsDB meetings, affirmed that the Islamic bank encourages investments among the Islamic states and boosting joint growth through funding and insurance.
He added that the Islamic Investment Insurance and Export Credit (ICIEC) foundation has pursued its pivotal role since 1994, covering insurance valued at more than USD 121 billion, thus stimulating strategic investments in the sectors of infrastructure, industries, health care and agriculture.
Al-Jaser added that the IsDB-affiliated Islamic Corporation for the Development of the Private Sector (ICD) has financed since its establishment in 1999 more than 575 projects in 50 countries at more than USD 7.5 billion value, covering main sectors namely energy, industries and agriculture, while the Islamic foundation for funding trade has earmrked since its founing in 2008 financial allotments exceeding USD 83 billion with allocations for the private sector amounting to USD 1.2 billion. (pickup previous) mr.rk