The Asian Development Bank (ADB) is keen to expand its cooperation with the Jeddah-based Islamic Development Bank (IDB) following the launching in early July 2009 of their joint $500 million Islamic Infrastructure Fund, which will invest in the equity of infrastructure companies of member countries common to both the ADB and IDB. According to Jaseem Ahmed, director financial sector, Southeast Asia Department at the ADB, the two partners are exploring opportunities to invest directly in infrastructure projects in these countries, according to a report published today by the Jeddah-based Arab News.
