Saudi's IDB mulls funding Lebanese projects
[Lebanon's] Industry Minister Vreij Sabounjian said the Islamic Development Bank is highly interested in funding projects in Lebanon, adding that the country’s high profile participation in the Riyadh economic summit was beneficial in strengthening ties with Arab countries.
“The bank has shown keen interest in infrastructure projects approved by the Lebanese government recently,” he said.
The IDB is the financial arm of the Jeddah-based Organization of the Islamic Conference, which has extended many loans to the government covering the telecommunications, transportation and health care sectors.
- United Arab Bank makes AED250,000 contribution to Al Thiqah Club for the Handicapped
- Opening up: is Saudi Arabia's stock market ready for an upgrade?
- Severe symptom of a savings gap? Turkey leads Europe in credit card debt
- Gulf stocks facing some serious 'downward pressures'
- Long-anticipated hike: Dollar on track for best annual gain in nine years