Wednesday, 17 January 2018 01:08 GMT

IDB to provide $176mn funding for water supply project in Oman

(MENAFN - Muscat Daily) Jeddah Saudi Arabia-based Islamic Development Bank (IDB) will provide US$176mn financing for a water supply project in the Sultanate.

In a press statement on its website IDB said its board of executive directors have approved US$987mn of financing for new socio-economic development projects in member countries and Muslim communities in non-member countries.

IDB said that US$176mn financing for Oman has been approved for Wadi Dayqah water supply project.

Wadi Dayqah water supply scheme is one of the major projects implemented in the Sultanate to ensure sustainability of water resources.

The IDB board approvals also included several major projects in member countries such as US$226.8mn for development of Sharm-El-Sheikh International Airport and US$198mn for the Assiut oil refinery upgrade in Egypt.

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