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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Islamic Development Bank approves $1.12 billion in financing for projects in 9 countries

    Rocky
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    The Islamic Development Bank approves $1.12 billion in financing for projects in 9 countries Empty The Islamic Development Bank approves $1.12 billion in financing for projects in 9 countries

    Post by Rocky Sun 11 Sep 2022, 7:25 am

    The Islamic Development Bank approves $1.12 billion in financing for projects in 9 countries
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    Part of the meeting of the Board of Executive Directors of the Islamic Development Bank at its headquarters in Jeddah
     September 11, 2022 02:14 PM
    Riyadh – Mubasher: The Board of Executive Directors of the Islamic Development Bank, during its regular meeting No. 347 at its headquarters in Jeddah, agreed to provide a total amount of $1.12 billion; To finance a package of development projects in various sectors in 9 member countries.
    The Islamic Development Bank announced, in a statement, the issuance of the Council's approval to provide $1.79 million aid packages to finance other projects; Includes market access readiness in Yemen, as well as granting special assistance to Muslim communities in 3 non-member countries.
    During the meeting, which was chaired by the President of the Islamic Development Bank, Muhammad Suleiman Al-Jasser, the Board of Executive Directors discussed and approved a number of projects and approved their financing in several key sectors, including food security, health, transportation, energy, urban development, education, and water and sanitation.

    The Council discussed the current financing gaps in the main infrastructure needs in the energy sector in some member countries, and approved two projects using the public-private partnership financing formula for the benefit of both the Republics of Uzbekistan and Uganda, noting that the governments of the two countries use the financing of the public-private partnership as a mechanism To attract private sector investment and expertise to provide improved public services and accelerate economic growth.
    In its statement, the Islamic Development Bank indicated that the Surkhandaria combined-cycle power plant project for the Republic of Uzbekistan at a cost of 100 million euros is expected to meet the increasing demand for energy consumption in the country, in addition to replacing the old, inefficient gas-fired thermal power plants.
    And he indicated that the East African Crude Oil Pipeline Project in the Republic of Uganda, which was approved at a value of $100 million, aims to enable the country to exploit its oil reserves and export crude to international markets, through the 1,443 km-long buried cross-border pipeline.
    Recognizing the importance of sustainable and efficient transportation systems in promoting social and economic development, the Board of Executive Directors approved a total financing package of $601.7 million, for projects related to transportation and roads in Guyana ($200 million), Uzbekistan ($106.7 million) and Uganda ($295 million). ).
    The Islamic Development Bank noted that it expects these projects to enhance access to social infrastructure, facilitate market access for farmers and traders, and enhance regional integration and tourism in member countries.
    In the health sector, the Council agreed to provide €205 million to strengthen the national referral hospital in the Oncology Center in the Republic of Indonesia, and through the modernization of 6 national referral hospitals in the country, the project aims to improve and raise the quality of providing oncology services for children and adults.
    The Council also examined and approved various reports; Such as the restructuring of the debts of Queen Alia International Airport in the Hashemite Kingdom of Jordan, as well as a report on changing part of the financing of the deferred sale to a commodity Murabaha for a hospital project with a capacity of 300 beds in Kaduna State, Nigeria.
    In order to provide market access readiness in the main economic commercial sectors in Yemen, the Council approved a grant of one million US dollars under a program that works to improve market access by addressing the existing gaps in the selected commercial sectors, which are onions, honey and coffee.
    With regard to the educational infrastructure needs of Muslim communities in some non-member countries, the Council approved a grant of $785,000 for Muslims in some key areas identified in Zambia, India and Bosnia.
    The funds were mainly earmarked for the expansion of school facilities in response to the large number of requests from students, and will also be used to enhance the provision of quality education and to enhance the skills of youth in Muslim communities through technical training aimed at improving their economic and social integration.
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