Madinah, Kingdom of Saudi Arabia – Members of the Board of Executive Directors of the Islamic Development Bank, IsDB, in their 318th meeting which convened in Madinah Al Munawarah, approved allocation of US $714.7 million worth of financing for new development projects in member countries.
Chaired by IsDB Group President, Dr. Bandar Hajjar, the meeting wrapped up work on Monday, 27 March, 2016 with several strategic financing approvals including: US $328.5 million for “Reconstruction of Atyrau – Border of Russian Federation (Astrakhan)” project in Kazakhstan; US $300 million for phase two of the “Construction of Rural Housing” project in Uzbekistan; and US $86 million for “Expansion and Development of the Port of Tripoli” project in Lebanon. The Board Members were also informed of a US $270,000 technical assistance grant approved by the IsDB Group President for the Sultanate of Oman aimed at increasing the “Export Value of Luban and Dates.”
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