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IsDB to Provide €270m for Rural Housing

Industry: Development, NGO & Development
Company: Islamic Development Bank (IsDB)
Company Intelligence Tag: Business Insights

The Islamic Development Bank (IsDB) has approved a €270 million loan for Bangladesh’s rural and peri-urban housing project. The loan was approved during the bank’s annual meeting in Saudi Arabia, with the theme “Partnerships to Fend off Crises.” The meeting focused on IsDB’s member countries and the importance of supporting them through concessional financing, technical support, and building partnerships. Bangladesh also received the “Largest Financing Partner” award during the meeting for its regular borrowing from the IsDB’s International Islamic Trade Finance Corporation to purchase fuel from the global market and pay back loans regularly. Bangladesh was elected as an executive director of the IsDB for a three-year term from 2024.

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