The statement of the Islamic Bank for Development

The council of the executive directors of the Islamic bank for Development on Monday evening concluded its 200th session which was held for two days at the bank's headquarters in Jeddah.

A press statement released on Tuesday by the Bank said that the council adopted during this session new finances to contribute to financing 8 development projects in 8 member states of the IBD at a total sum of $ 151 million. The statement said that among these finances ( loans) are $ 31 million for Syria to contribute the Tishreen electricity station with the aim to meet the increasing demands for electricity for the city of Damascus.

The statement indicated that the other finances are loans of $ 8.8 million for Albania, a loan of $ 24.8 million for Pakistan; a loan of $ 41.5 million for Egypt, $ 20.3 million for Algeria, a loan of $ 9.4 million for Lebanon and a loan of $ 10 million for Qatar's bank for industrial development as well as a sum of $ 343,000 for the provisional government in Somalia in order to help financing various projects in the said countries.