Islamic Development Bank pledges US$117m
Finance Minister Ahmed Munawar secured the funds during meetings held on the sidelines of the IDB’s annual meeting in Jeddah, Saudi Arabia from May 16 to 21.
30 May 2017, 9:00 AM
The Islamic Development Bank has pledged facilities worth more than US$117 million to finance infrastructure and waste management projects.
Finance Minister Ahmed Munawar secured the funds during meetings held on the sidelines of the IDB’s annual meeting in Jeddah, Saudi Arabia from May 16 to 21, the finance ministry said in a press statement Monday.
Munawar met with IDB President Dr Bandar M H Hajjar as well as officials from the IDB’s Awqaf and Waqf unit, which agreed to increase the funds allocated for projects proposed by the Islamic ministry, it added.
The CEO of the IDB’s Islamic Trade Finance Corporation, Hani Salim, agreed to increase the amount of loan assistance pledged for business, fisheries and harbour construction projects and to provide expert assistance on trade finance.
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