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.
- Integrating Islamic finance: challenges ahead for the global sukuk market
- Restoring confidence: Can S&P bank upgrade help Lebanon's economy?
- Getting their priorities straight: Emirati households spending more on phones, cars than education
- Why Qatar stocks hit six year high this week
- Are Arab Bankers right to blame the region's deteriorating economies on the Arab Spring?