IDB extends $10 million in loans and grants to Cameroon
The Islamic Development Bank (IDB) has extended $10.1 million in loans and grants to the Government of Cameroon for food security and health care projects.
A nine million dollar loan will finance the construction of six hospitals and 42 health care centers in four regions in Cameroon. Another one million dollar loan will finance micro enterprises, stated a press release. Finally, a technical assistance grant for $75,000 will fund job creation projects.
The purpose of IDB is to foster the economic development and social progress of member countries and Muslim communities, individually as well as jointly, in accordance with the principles of Shariah Islamic Law. The present membership of IDB consists of 54 countries.
IDB is headquartered in Jeddah, Saudi Arabia, with regional offices in Morocco, Malaysia and Kazkahstan. — (menareport.com)
© 2004 Mena Report (www.menareport.com)