US $173 million for IBD projects

The Islamic Bank for Development has allotted US $173 million for projects in its member states and for Islamic communities in non-member states. A statement released yesterday by the Bank in Manama said that Pakistan will get US $30 million to import crude oil from Saudi Arabia and other funds for small projects, whereas Pakistan will get US $37 million to import refined items and crude oil from four IBD member states.

The statement added that the bank has also allocated US $24.7 million to Bahrain for a project to treat and invest sewage waters and US $30 million for Jordan for the purchase of medical equipment. The bank also allotted a loan of US $5.78 million for the Republic of Mali for the project of developing and ensuring agricultural production and US $9.5 million for Tunisia to finance a forestry protection project.

The statement went on that some US $8.6 million were allotted to Sudan for road projects, US $9.57 million for Kazakhstan, US $4.9 million for Gambia for road construction projects and other minor sums to several Islamic countries.