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FINANCIAL NEWS
Jeddah-based IDB to release USD790m for development projects
17 Jul 2013
(MENAFN) The Islamic Development Bank (IDB) has Okayed USD790 million to carry out different development projects in member countries, Arab News reported.
The Jeddah-based organization’s board of executive directors agreed to give USD220 million to the renewable energy program of the Development Bank of Turkey and USD200 million for an electricity project in Damietta, Egypt.
The board also agreed to give USD140 million for a water project in Agadir, Morocco and USD120 million for a road project in Uganda, USD35 million loan for Pakistan to finance reconstruction of schools destroyed by the floods, USD19.8 million loan for a water supply project in Ouahigouya, Burkina Faso and USD15 million for an integrated rural development project in Yemen.
The rest of the grants included USD8 million for Niassa electrification project in Mozambique, USD7 million for an energy project for rural communities in Togo, USD23.7 million to finance Mali’s food program and USD200,000 to Jordan for capacity building of rural producer organizations.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
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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