Economy
Islamic Development Bank approves $715MN for projects
Schemes in Lebanon, Kazakhstan, Uzbekistan to receive millions in funding
27.03.2017 - Update : 27.03.2017
Ankara
By Bahattin Gonultas
ANKARA
The Saudi Arabia-based Islamic Development Bank has approved $715 million in funding for development projects in Kazakhstan, Uzbekistan and Lebanon, according to a statement released on Monday.
Among the approved projects are $328.5 million for a border reconstruction scheme in Kazakhstan; $300 million for the second phase of a rural housing plan in Uzbekistan plus $86 million for the expansion of Tripoli port in Lebanon.
Fifty-seven countries are members of the bank which aims to support economic and social developments and has approved more than $120 billion in financing since its establishment in 1974.
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