Kuwait- IDB inks 40 loan pacts with 21 countries 

(MENAFN - Kuwait News Agency (KUNA)) The Islamic Development Bank (IDB) hammered out 40 USD 1.9-bln loan deals with 21 IDB member states during its two-day 37th annual meeting, which wound up here Wednesday.

The loans are to be used in carrying out development projects with those countries.

The IDB signed two deals with Sudan at a value of USD 124 million to be used in development projects, three with Turkey in the vicinity of USD 551 million, three with Bangladesh to the value of USD 394 million, one with Azerbaijan worth USD 200 million.

Chad won two pacts worth USD 124 million, Bahrain clinched just one valued at USD 120 million.

Three deals went to Indonesia for development projects in the neighborhood of USD 117.5 million, one to Guinea for education and electricity projects with a sum of USD 87 million, four to Mauritania at a total value of USD 32 million, two to Uzbekistan worth USD 37.3 million, two to Senegal to the value of USD 36.7 million, three to Burkina Faso worth USD 22.5 million.

The IDB also clinched one deal with Tajikistan with a sum of USD 17.5 million, one with Sera Leon in the form of a concessionary loan worth USD 15.5 million, one with Cameron worth USD 15 million, one with Niger valued at USD 15 million and one with Mali to the value of 13 million.

Moreover, Afghanistan had a share of two agreements worth a total of USD 19 million, while Gambia, Maldives and Guinea Bissau won one deal each worth USD 10 million, USD 4 million and USD 299,000 respectively.

At the wrapping-up of the IDB's two-day annual meeting, Tajikistan took over the presidency of the bank board of governors for the next session on May 2013.