Financial and Banking News


IBD Approves $26mn in Loans

The Islamic Development Bank (IDB) announced on 11 June that projects in three countries worth a total $26mn have been approved. Cameroun is to receive $17.5mn for four projects, including the purchase of farming equipment and the establishment of a rice processing plant, Algeria will receive $6.57mn, and Egypt is to get $1.87mn to buy equipment for a palm oil factory. The IDB also approved on 8 June the grant of $600,000 to...