IDB approves $ 88 loans to Islamic countries

The Islamic Development Bank IDB has approved lately $ 88 Million loans and assistance in favor of several Arab and Muslim member countries.

At the end of the 182nd session of its executive managing board held last week in Jeddah, the Bank approved more than

$ 60 Mln to finance six development projects and two assistance programs in five member countries.

The bank also released about $ 28 Mln in assistance and financial backing to several Muslim communities and minorities in the world.

The money will fund various socio-economic development projects and will also help launch some cultural and educational programs destined to promote Islamic culture, precepts and civilization.