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.
- Big data: the world's next big natural resource?
- Will Hezbollah sanctions have an effect Lebanon’s banking sector?
- Why Saudi's latest announcement to open up the stock market to foreign investors is a good move
- Saudi expected to emerge as seventh largest capital market and it's a very big deal!
- Time for some serious contemplation: Middle East firms face $91bn refinancing needs