IDB allots US $270 million for member states

The Islamic Development Bank has allotted a sum of US $270 million for financing new projects for the IDB member states and Islamic communities in IDB non-member states. This was decided at the conclusion of the IDB's 185th session held at the headquarters of the Bank in Jeddah, Saudi Arabia.

IDB chairman Ahmad Muhammad Ali said in a press statement on Tuesday that the bank has allotted some US $209 million to finance 14 development projects in some 14 IDB member states and a sum of US $970,000 as donations for five Islamic communities in four countries which are not members of the IDB as contributions to these communities' educational, health and cultural projects.