IDB approves US$ 747 million for projects
By Sarah Ann McCay09 September 2013
The Islamic Development Bank (IDB) has approved US$ 747 million in financing for development projects across the Middle East and Africa.
The bank will fund a wide range of projects including Tunisia’s Rades-C combined cycle power project, which will receive the largest single award at US$ 200 million.
Iran has received US$ 190 million for a sanitation improvement project that will benefit six cities in Fars region, while Egypt was granted US$ 109 million for an agricultural project that will focus on the rehabilitation of irrigation and drainage pumping stations.
Burkina Faso will receive financing of US$ 100 million for the construction of new airport to serve the capital Ouagadougou. US$ 72 million will go to Lebanon for the development of a Lebanese University through construction of two public health faculties.
Senegal will receive US$ 38 million for a floods impact mitigation project in the capital Dakar to minimise the impact of recurrent floods.
The rest of the projects are US$ 24 million to Cameroun to support the development of primary and secondary health services in the most deprived areas of the country, and US$ 14 million for a bilingual (Arabic-French) lower secondary school education project in the Republic of Chad.