WB, IDB to raise USD 1bn for MENA infrastructure projects.

By bne IntelliNews October 12, 2010
The World Bank (WB) and Jeddah-based Islamic Development Bank (IDB) plan to raise up to USD 1bn through a regional investment vehicle to support both conventional and Shariah-compliant investment in infrastructure in the MENA region, Saudi state agency -SPA reported. Both parties proposed regional initiative that would include technical assistance to help governments tackle legal, policy and institutional constraints. The WB lending to the MENA region for infrastructure, including electricity, transport and water, exceeds USD 1bn a year.

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