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FINANCIAL NEWS
IDB approves $620m financing plans
11 Aug 2010
(MENAFN) The President of the Islamic Development Bank (IBD) said that the Jeddah-based institution has finalized decisions on financing of a total of 12 projects worth $620 million, Saudi Gazette reported.
The bank discussed a proposal for financing a $200 million project on the OCP Jorf Lasfar Port Expansion project in Morocco, the $120 million Behna Combined Cycle Power Plant Project in Egypt as well as the $150 million Khartoum New International Airport Project in Sudan which were all later approved by the Board.
The institution also adopted resolutions on financing of different infrastructural, educational and health projects in several other IDB member countries including Iran, Burkina Faso, Djibouti, Gambia, Mauritania, Uzbekistan, Guinea, Cameroon and Sudan.
Also, the IDB board voted for rendering grants to 6 different Shari�ah-compliant projects through the IDB Waqf Fund ranging from expansion of an Islamic center in Argentina to building schools for Muslims in other countries including Ethiopia, Paraguay, Brazil and Ukraine.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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