Financial and Banking News

AID FLOWS

IDB Lends $27.6mn to Three Member Countries

The Islamic Development Bank (IDB) has agreed to lend Turkey $15mn to finance crude oil imports, according to an agreement signed on 11 May. The IDB also agreed last week to lend Bangladesh $10.46mn for the purchase of two dry cargo ships and to extend a $2.1mn loan to Malaysia to help finance imports of industrial goods.