IslamicFinance.de

The Islamic Development (IDB) has approved financing of projects worth $747 million in various countries. The projects include $200 million aid for Rades Electric and Gas station project in Tunis for the development of energy sector in Tunisia , projects worth $190 million in six Iranian cities and $110 million irrigation projects in Egypt aimed to increase agricultural production in rural communities. The IDB is also providing $100 million to build an airport in Burkina Faso. The educational aid granted by the bank includes $72.5 million for development of the Lebanese University in Beirut, and $10 million for Arabic and French bilingual education project in Chad. Moreover, the bank approved several other projects in member and non-member countries. IDB's executive directors also reviewed the arrangements for the celebration of the 40th founding anniversary of the bank next year.