VOL. XXXII

NO. 12/13

26-DEC-1988/2 JAN1989

Financial and Banking News

AID FLOWS

IDB Approves $67mn in Loans and Grants

The Board of Directors of the Islamic Development Bank (IDB) on 7 Decemberapproved $66.97mn in loans and grants, as follows: $36.54mn for developmentprojects; $30mn for foreign trade operations; and $425,000 for technial assistance grants.

The IDB also agreed on 3 December to lend Somalia $6.35mn to build a teachertraining institute and a commercial complex in Mogadishu.