Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Islamic Development Bank approves USD 447.6 mln for projects in member states  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 24/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) The Islamic Development Bank (IDB) on Monday approved USD 447.6 million towards financing several new development projects in a number of member countries, as well as three grants under the Waqf fund for educational projects for Muslim communities in Kenya, Lesotho, and Trinidad and Tobago.

The Jeddah-based bank said in a press release following the 298th meeting of the Board of Executive Directors convening in concurrence with the 39th Annual Meeting of the Board of Governors of IDB that the major part of the financing, USD 304 million, went to the energy sector.

It added that USD 220 million went for a Power Grid Extension Project in Bangladesh, and USD 83.75 million for 132 KV Mirama-Kable Transmission Line and Distribution Project in Uganda.

Other approvals of the board included: USD 87.5 million for Improvement of Wastewater Management and Sanitary Services in Al Ghadir Drainage Basin, Lebanon; an additional USD 25 million for the second phase of Queen Alia Airport Expansion Project, Jordan raising the IDB financing for the Queen Alia airport expansion to USD 125 million; USD 15 million for Primary Healthcare Services Expansion Project in Chad; and USD 15 million for Support to the Development of Technical and Vocational Schools Project in Guinea.

Also, a USD 450,000 technical assistance grant was provided under the IDB Waqf fund towards capacity development of Laboratory Technicians (micro biology) in seven West African countries - Burkina Faso, Benin, Guinea, Mali, Niger, Senegal and Togo. It is expected that such capacity building measures would help fight TB, AIDS, Malaria, etc., and support educational and vocational programs aimed at tackling poverty and unemployment.

The members of the board further approved of IDB's continued contribution to the International Center for Biosaline Agriculture (ICBA), Dubai, UAE, as the center represents a successful example of mutual cooperation between the Bank and the UAE. ICBA has developed into a world class research center with an international team of scientists and researchers working on innovative solutions to improve the status of poor farmers and to implement development programs aimed at upgrading productivity in agricultural regions.

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Nov 26 2014 - Kuwait's Mabanee to invest USD910m on projectMENAFN
(MENAFN) Mabanee, the Kuwaiti real estate firm, announced it is planning to spend USD910 million on building the fourth phase of its development of The Avenues mall, Arabian Business reported.The ...

 Nov 26 2014 - Oman's Sezad, OOC sign MoU on Duqm refineryMENAFN
(MENAFN) The Special Economic Zone Authority of Duqm (Sezad) announced it has signed a Memorandum of Understanding with the Oman Oil Company (OOC) regarding construction work on the planned refinery ...

 Nov 26 2014 - Emirates Airlines adds new flight to Maldives routeMENAFN
(MENAFN) Dubai's Emirates Airline announced it has added a third daily service to Mal", the capital of the Maldives, which will begin servicing passengers on December 1, Arabian Business reported.The ...

 Nov 26 2014 - Abu Dhabi Int'l passenger traffic up 17 percent in OctoberMENAFN
(MENAFN) Abu Dhabi International Airport announced that it registered an increase by 17 percent in its passenger in October, Arabian Business reported.The airport said that it has registered a total ...

 Nov 26 2014 - Oman's Rolls-Royce sales grow 46 percent in Jan.-Oct.MENAFN
(MENAFN) Rolls-Royce Motors announced it has registered an increase in its sales in Oman by 46 percent during the January-October period, compared to the same period last year, Times of Oman ...

 Nov 26 2014 - GCC petrochemical industry to decline on falling oil pricesMENAFN
(MENAFN) Gulf countries' petrochemical industry is expected to begin facing challenges due to the falling of oil prices, US shale gas and China's polyethylene, Khaleej Times reported.These factors ...

 Nov 26 2014 - Syrian economy decline 40 percentMENAFN
(MENAFN) According to the Undersecretary General for Humanitarian Affairs and Emergency Relief Coordinator, Syria's economy has declined by almost 40 percent since 2011, due to the effects of the ...

 Nov 26 2014 - Qatar to invest USD43.62b on railways infrastructureMENAFN
Qatar's Ministry of Transportation announced it is currently working on the development of advanced transport infrastructure in the country, with several projects currently in the planning stages or ...

 Nov 26 2014 - Dubai's Kcal to expand to EgyptMENAFN
(MENAFN) Kcal, the Dubai-based restaurant chain announced it is planning to expand its business in the MENA region with its first store slated to open in Egypt by December this year, followed by 14 ...

 Nov 26 2014 - MENA's value of M&A deals hit USD9.3b in Q3MENAFN
(MENAFN) The Middle East and North Africa's (MENA) merger and acquisition activity increased by 17 percent during the July-September period of this year, with 109 deals announced compared with 93 ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help