(MENAFN - Kuwait News Agency (KUNA)) JEDDAH, July 3 (KUNA) -- The Islamic Development Bank (IsDB) has launched a USD 500 million fund for science, technology and innovation.
The IsDB board members approved the establishment of the fund in their meeting in the Saudi city of Jeddah today.
In statements to the Saudi Press Agency (SPA), the IsDB Board Chairman Bandar Al-Hajjar noted that the fund would finance scientific programs and the application of scientific innovations in development projects in member states.
He added the fund aims to foster innovation and scientific advancement in the member states. (end) nsa.ibi