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DEVELOPMENT FINANCE-
IsDB signs USD 5.4 bn development finance agreements: The Islamic Development Bank (IsDB) has signed financing agreements worth USD 5.4 bn with 24 of its member countries, according to the Saudi Press Agency (SPA). The agreements, which were signed at the IsDB’s annual meetings, cover the areas of transportation, healthcare, agriculture, food security, small and medium enterprises, education, and humanitarian support, Arab News quotes IsDB Chairman Mohammad Al Jasser as saying. The IsDB also launched six sustainable development projects worth more than USD 558 mn for developing infrastructure for its member states.
STORAGE-
New facility gives major boost to KSA’s grain storage capacity: Saudi Arabia’s General Food Security Authority (GFSA) has completed construction of a new grain storage facility that will significantly increase the country’s storage capacity, Argaam reports. The new complex will boost KSA’s grain storage capacity by 40%, from 2.5 mn tonnes in 2016 to 3.5 mn tonnes at present.
ALSO WORTH KNOWING-
- Abu Dhabi Islamic Bank(ADIB) will offer SMEs withtrade licenses based in the UAE’sMeydan FreeZone streamlined banking services under a new agreement. (WAM)
