JEDDAH: The Islamic Development Bank (IDB) approved $717 million in financing, including $198 million for power generation and primary education projects in Bangladesh. The approvals also included $191 million for water transmission and storage facilities in Bahrain, $95 million for power production in Senegal and a $75 million credit for an Islamic bank in Turkey, IDB said in a statement Tuesday. A $66 million package for power production in Syria and $25 million for Indonesia's Bank Syariah Mandiri was also approved. IDB said June 15 it will give Egypt a $2.5 billion financing package over three years as the country seeks to bridge its budget deficit after a popular revolt. In early June, the bank said it will lend $291 million for electricity projects in Tunisia, which also witnessed protests that toppled its president. The bank also approved grants under its Waqf Fund for projects in Muslim communities in non-member countries including Brazil, Burundi, Ethiopia, China, India and Slovenia along with donations for the development of four hospitals in Somalia, it said.
