VOL. XLI

No. 38

21-September-1998

SAUDI ARABIA

IDB Approves $1.5Bn Infrastructure Fund And $210Mn Of Projects

The Islamic Development Bank (IDB) based in Saudi Arabia announced on 7 September thatit is to set up a $1.5bn fund to finance infrastructure projects in its member countries.The fund will mobilize financial resources from international markets for infrastructureprojects. According to the IDB's President, Dr. Ahmad Muhammad 'Ali, the fund will focusparticularly on projects in roads,...