Financial and Banking News


IDB Lends $18mn to Syria, Approves $33mn in Aid 

The Islamic Development Bank (IDB) signed an $18mn loan agreement with Syria on 21 August. The funds are earmarked for the purchase of two 150-MW generators, transformers and related equipment which, when installed, will double the capacity of the Mehrada power station north of Hama.

Two days previously, on 19 August, the IDB's Board of Executive Directors approved $26.6mn in loans, $1.6mn in...