Tagged: Islamic Development Bank (IDB)

IDB allocates $710 million to 4 projects in Iran

IDB allocates $710 million to 4 projects in Iran

The Islamic Development Bank (IDB) has given its approval for a loan worth $710-million to implement four projects in Iran. The agreement was reached in the sidelines of the IMF annual meeting in Tokyo. The money will be used for the establishment of t…

Islamic Development Bank places $500m sukuk

Islamic Development Bank places $500m sukuk

This month Islamic Development Bank (IDB) issued a US$500m five-year sukuk. This is a rare example of a privately-placed transaction from this institution. Market data show that the deal was priced at 30 basis points (bps) over the three-month London i…

World Bank and IDB sign Islamic finance deal

World Bank and IDB sign Islamic finance deal

A Memorandum of Understanding (MoU) has been signed by the World Bank and the Islamic Development Bank (IDB). It will provide a framework for collaboration between the two parties and support global, regional and country efforts in the development of I…

Bill Gates joins the IDB

Bill Gates joins the IDB

In accordance with his tendency to use his fortune to solve global problems of the world’s underprivileged, Bill Gates has turned to Islamic Development Bank (IDB). The Bill and Melinda Gates Foundation has signed an MOU with IDB which aims to fight …

ADB to provide assistance to build 2 wind farms

ADB to provide assistance to build 2 wind farms

The Asian Development Bank (ADB) has engaged in its first Shariah-compliant project financing, offering assistance to two projects to build wind farms close to the port city of Karachi, exploiting two partial credit guarantees valued up to $66 million …

Investment of $100 million for MENA region

Investment of $100 million for MENA region

The IFC and the Islamic Development Bank (IDB) will support the construction of major infrastructure projects across the Middle East and North Africa through an investment of up to $100 million.
The investment is an attempt to stimulate economic growth…