Islamic Bank Approves $375m Loans for Muslim States
Officials from the Islamic Development Bank (IDB) announced Tuesday that the IDB has approved loans worth $375 million to finance development projects and commercial transactions for its members, including $45 million for Afghanistan.
A statement by the Saudi-based institution, which groups 53 Islamic states, was quoted as saying that it would grant $45 million to Afghanistan to rebuild hospitals, schools and water infrastructures.
It will also donate $5 million for refugees fleeing US-led strikes against their country, said Bahrain Tribune.
"The money will be given to the government that will be in power (in Kabul) after the end of the war," IDB President Ahmed Mohamed Ali told reporters.
Algeria will receive a $34 million loan from the bank to complete the installation of an irrigation network that would supply 34,000 hectares of farmland from the Beni Haroun dam – Albawaba.com