Saudi- IDB approves $1.96bn in new projects 

(MENAFN - Arab News) The closing ceremony of the 37th annual meeting of the board of governors of the Islamic development bank (IDB) hosted in Khartoum on Thursday was marked by the signing of a number of financing agreements. Under these agreements, the bank will contribute to financing of new development projects in 21 member countries with a total value of 1.96 billion.

According to an IDB source, the list of these countries included Sudan, Turkey, Bangladesh, Chad, Bahrain, Indonesia, Guinea, Mauritania, Uzbekistan, Senegal, Burkinafaso, Tajikistan, Sierra Leone, Cameron, Niger, Mali, Afghanistan, Gambia, Maldives, and Guinea Bissau.

The board of governors meeting included seminars, forums, workshop and official meetings.

A number of seminars preceded the meetings, the most prominent of them was a seminar on financing and opportunities provided by the IDB group with success stories, role of consulting and construction industry in development, capacity building and employment generation of member countries, agribusiness and food, challenges and opportunities facing youth development, and pricing and marketing issues in microfinance, the source added.

The IDB Group entities have also held meetings in conjunction with the board of governors meeting including the 9th board of governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the 5th Board of governors of the Islamic solidarity fund for Development (ISFD), the 12th general Assembly of the Islamic corporation for the development of the private sector (ICD) and the 7th general assembly of the international Islamic trade finance corporation (ITFC).