The Jeddah-based Islamic Development Bank(IDB), the Muslim world's premier multilateral financial institution, estimates that its 56 member countries are set to invest up to $1.2 trillion in infrastructure over the next 10 years to meet the rapidly growing demand for telecom, transport, power, water and other infrastructure services. “Around $675 billion will be used to finance new telecom and power projects, some half of which will be in GCC (Gulf Cooperation Council) states, while an additional $290 billion is to be invested in expanding and upgrading air, sea and land transport infrastructure, with half of that investment taking place in Asia” Dr. Amadou Boudacar Cisse, IDB vice president was quoted as saying by the Jeddah-based Saudi Gazette in a report published today. --MORE
