IDB disburses $51b project loans Posted on May 14th
“The total financial disbursements of the Islamic Development Bank (IDB) reached $51 billion over the last 33 years, the bank said in its annual report. IDB as a group has disbursed $5 billion to finance 327 developmental projects. According to the report, around two-fifths of financial disbursement has been directed towards technical projects and consultancy while posting approximately 59 per cent trade of the finance and 1.2 per cent in the form of grants. Since commencing its activities in 1395 Hijra (AD 1975) and through the execution of the declaration of intent issued by the conference of the finance ministers of Muslim countries held in Jeddah, the IDB has been a key player in alleviating poverty, unemployment. The group comprises five entities where the bank is the ...” Tagged as International | No Comments » | Continue
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