The Board of Executive Directors of the
Islamic Development Bank (IDB) has announced that it will contribute US$1.1 billion towards new development projects in IDB member
countries and Muslim communities in non-member countries.
Chaired by IDB President Dr Ahmad Mohamed Ali, the Board approved funding for the following projects in Asia Pacific and Middle East:
• US$176.5 million for the Development of Four Higher Education Institutions Project in Indonesia
• US$330 million for the Power Grid Enhancement Project in Indonesia
• US$350 million for the Sohar to Ibri Water Supply Project in Oman
• US$99.2 million (RM$400 million) of sukuk in the Malaysian market from April through May, 2016