Syria, IBD boost relations

Chairman of the Islamic Bank for Development Ahmad Ali and Syrian Minister of State for Planning Abdul Rahim al-Sbei' have discussed in Jeddah at the IBD's headquarters means of consolidating relations between the two sides and projects financed by the bank in Syria.

The IBD chairman stressed interest in bolstering development programs and plans in Syria.

The two sides signed an agreement according to which the bank is to provide US $10.48 million for the purchase of equipment necessary for setting up a cotton-spinning factory in Syria at an annual production capacity of 4,000 tons.