ADB, IsDB to Establish Infrastructure Fund

The Asian Development Bank and Islamic Development Bank will put up the first major multi-country Islamic infrastructure fund in Asia valued at $500 million. The Islamic Infrastructure Fund will support Shari'ah-compliant equity investments in Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Malaysia, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. "With increasing demand for Islamic finance by both investors and clients, we expect the Fund to attract capital not only from the Islamic world, notably the Middle East region, but from a wide range of institutional investors all over the world,"

Walid Abdelwahab, director of IDB's Country Operations Department in Asia.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.