New finances approved for the IBD

The Islamic Bank for Development IBD on Tuesday approved new finances estimated at more than US $ 300 million for IBD member states and the Islamic communities as smooth, non- profitable loans including US $ 19 million for the Palestinians in support of the Palestinian Intifada.

In a statement, the bank said that it had proposed financing operation estimated at US $ 885 million for the Hijra Fiscal year which starts by the end of March against US $ 827 million for this year.