ISDB approves US$ 450 million development loans

By Sarah Ann McCay17 February 2013

The Islamic Development Bank (ISDB) has approved financing worth US$ 450.8 million for new development projects in member countries as well as Muslim communities in non-member countries. 

Construction projects approved for financing include US$ 125 million for the development of the Qukës-Qafë Plloçë Section of the Tirana-Korca Road Corridor in Albania, and US$ 20 million for construction of the Sukuta-Jambangelly Road Project in the Gambia.

Other developments to receive funding from the ISDB include the SADARA Petrochemical project in Saudi Arabia (US$ 120 million) and the SANIMAS Community Based Sanitation Project in 46 cities in Indonesia (US$ 100 million).

Other major approvals included US$ 36 million for outdoor lighting for Tashkent, Uzbekistan.

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