$140m IDB funding approved

JEDDAH, 25 July — The Islamic Development Bank’s executive board has approved funds worth more than $140 million for various projects in member countries. IDB President Dr Ahmad Mohammed Ali said the new allocations included about $40 million for financing four projects, including one technical assistance and $1.5 million in grants from the Waqf Fund for financing eight educational institutions in Muslim communities in non-member countries.