IDB approves $216m in new aid

JEDDAH, 26 July — The Islamic Development Bank has approved $216 million to finance development projects in member states and Muslim communities in other countries. The IDB board of executive directors which met at the bank’s headquarters in Jeddah approved the allocations. IDB President Dr. Ahmad Muhammad Ali chaired the meeting. Of the new provisions, said Dr. Ali, around $84 million have been approved for financing 11 development projects in 10 member countries and $2.5 million as assistance to educational institutions run by Muslim communities in nine non-member states.