Financial and Banking News


IDB Lends Algeria $25mn, Allocates $70mn for Muslim communities 

The Islamic Development Bank (IDB) has agreed to lend Algeria $25mn to help finance the import of intermediate industrial goods for the Algerian National Steel Company, according to an agreement signed on 28 April. The IDB has also approved the allocation of $70mn to finance 75 educational, health and social service projects for Muslim communities in 30 countries.