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| Source: Islamic Development Bank Board Members at the 318th meeting convened in Madinah Al Munawarah, KSA. |
Members of the Board of Executive Directors of the Islamic Development Bank, have approved the allocation of US$714.7 million in financing for new development projects in member countries.
Approved financing included:
US$328.5 million for the reconstruction of the Atyrau – Border of Russian Federation (Astrakhan) project in Kazakhstan;
US$300 million for phase two of the Construction of Rural Housing project in Uzbekistan; and
US$86 million for the Expansion and Development of the Port of Tripoli project in Lebanon.
The Board Members were also informed of a US$270,000 technical assistance grant approved by the IsDB Group President, Dr Bandar Hajjar, for Oman aimed at increasing the export value of luban (Editor's note: frankincense) and dates.