IDB approves US$ 260 million financing

By Sarah Ann McCay29 May 2012

The Islamic Development Bank (IDB) has approved financing of US$ 260.6 million for development projects in member countries and Muslim countries around the world.

The funding will finance infrastructure developments in the Middle East and Africa, including US$ 81.00 million for Nigeria's Zaria Water Supply Expansion Project, US$ 33.6 million for the Gorou Banda Thermal Power Project in Niger, and US$ 16 million for the Hadath El-Jubba-Bqerqasha Road Project in Lebanon.

Healthcare developments are also to receive funds, with US$ 118 million going towards the development of the Dr. Shariati Hospital in Iran and US$ 10 million for Burkina Faso's Strengthening the National Primary Health Care
Services project.

US$ 1.36 million has also been granted under IDB's Waqf Fund for infrastructural educational projects in Muslim communities in Ethiopia (US$ 480,000), the Philippines (US$ 280,000), India (US$ 200,000), Malawi (US$ 200,000) and Tanzania (US$ 200,000).

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