ALBANIA - TURKEY - IDB Gives $511 Mln in Loans, Grants for Member States’ Projects

Islamic Development Bank said that its board of executive directors approved today about $511 million in loans and grants for several projects in member countries.

The Jeddah-based multilateral lender, known as IDB, said the approved projects include $222 million to build a road in Albania, $108 million to schools development program in Turkey, and $95 million for the construction of grain steel silos in Pakistan.   (full story)



The bank said that it also approved a technical assistance grant for the preparation of a non-oil export strategy for Gulf Cooperation Council member countries.

To contact the reporter on this story: Wael Mahdi in Cairo at wmahdi@bloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

Source : http://www.bloomberg.com/news/2011-03-01/idb-gives-511-mln-in-loans-grants-for-member-states-projects.html - March 1, 2011