IsDB OKs Funding for Several New Development Projects

The Islamic Development Bank approved USD164.9 million worth of new development projects in its member countries, Global Arab Network reports. The budget also includes aid for Muslim communities in non-IsDB member countries.

The approved funds include money for a renewable energy program in Turkey, water supply and sanitation project in Bangladesh and an agricultural project in Mali and technical assistance grants for Muslim communities in Ethiopia, Australia, Montenegro, New Zealand and France. Kosovo was also allocated a grant and a loan while Somalia will be given a technical assistance grant for the construction of 10 new water wells and repair of five existing ones.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.