Islamic bank to boost projects for Muslim communities in non-Muslim countries
Regional, Economics, 11/3/1999

The president of the Islamic Development Bank, Ahmad Muhammad Ali, has said that the bank backs economic development and social progress in its member states and the Islamic communities in non-member states.

In a statement he made on Tuesday in Riyadh on the 25th foundation anniversary and the inauguration of the 24th annual meeting of the council of the bank governors, he added that the bank's total supplies until October 1, 1999 reached US $22 million, allotted for financing some 3,000 operations and projects in development areas.

He added that the bank provides technical assistance in the interest of its member states as well as donations and aid to Islamic societies in non-member states, adding that these aids reached US $170 million in the shape of non-refunded donations, used in financing 285 development projects in the areas of health and education for the service of these communities.

He said the bank offers easy loans for its members in order to finance infrastructure projects like roads, bridges, schools, hospitals, airports, dams and agricultural land reclamation.

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