Islamic Development Bank approves over $200 million in new loans

The board of executive directors of the Islamic Development Bank, which ended its 19th session in Jeddah last Monday approved new funds worth more than $200 million in favor of a number of member countries and muslim communities in non-member states, a press release said. The board approved $135 million to finance eight development projects in eight member states, $16.7 million from the Unit Investment Fund for Libya and about $10 million from the IDB Waqf Fund.