Deal Round-Up: Islamic Development Bank approves US$453 million infrastructure projects

18th May 2017 Steve Hoare
  • The Islamic Development Bank has approved various infrastructure projects for five member countries, totalling US$453 million. Tunisia will benefit from a US$78.7 million water project. Suriname gets US$35 million for an affordable housing project. The Bank will lend Turkey US$200 million for its Clean Energy and Energy Infrastructure Programme. Uganda agreed a US$60 million loan for its Local Economic Growth Project. Jordan’s Emergency Health Project received US$79 million.
  • The Japan International Cooperation Agency (JICA) will lend the Chennai Metro Project an extra JPY40 billion (US$360 million), bringing the amount it has invested in the project to around US$1.64 billion.
  • JICA also signed an agreement with the Government of Zambia to provide grant aid of up to 9 billion (US$35 million) to upgrade Lusaka’s health centres to district hospitals.
  • The China Development Bank has made an €80 million loan to the Bulgaria Development Bank, mostly to finance Bulgarian SMEs but it can also be used to support one belt, one road projects in China.
  • The African Development Bank (AfDB) lent nearly US$1 million to Zimbabwe’s Oxygen Energy for development of a 20 megawatt solar project on the rooftops of buildings owned by Old Mutual.
  • The AfDB also gave Namibia a boost with a US$226.5 million loan to finance Namibia’s Economic Governance and Competitiveness Support Programme.
  • The World Bank Group’s IFC is planning to US$50million in the Banking on Women project of Bangladesh’s Brac Bank and it will invest US$6 million in Bangladesh clothing company Ananta Apparels. It is also proposing a US$3 million loan in South Korean garment manufacturer Hansae to set up a factory in Haiti. The IFC is proposing a US$25 million loan to Mahindra Rural Housing to provide finance for affordable housing in rural and semi-urban areas of India and will invest US$100 million in non-convertible debentures to be issued by Mahindra & Mahindra Financial Services. Brazilian wireless infrastructure operator Phoenix Towers will benefit from a Br$40 million (US$13 million) loan. Finally, India’s Max Healthcare will receive US$75 million to develop its healthcare centres.









Leave a Reply

Your email address will not be published. Required fields are marked *