JEDDAH, 11 September — The Executive Board of the Jeddah-based Islamic Development Bank has approved finances worth more than $507 million in favor of a number of member and non-member countries.
According to IDB President Dr. Ahmad Mohammed Ali, the new allocations consisted of around $225 million for financing 11 development projects in nine member countries and $350,000 as grants for financing two educational projects in Muslim communities in two non-member countries from the Waqf Fund. The beneficiaries included Iran, Malaysia, Indonesia, Cameroon, Cote d’Ivoire, Tunisia, Morocco and Pakistan.
