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Few sub-Saharan African issuers have issued Samurai and fewer without a guarantee
Break-up with Fitch over downgrade has not put off investors
Book attrition rates rise and coverage ratios decline
New agreement not a done deal, but this is the furthest Ethiopia has got to in restructuring its bonds
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07.08.2011, Jeddah, KSA - The Islamic Development Bank Group has approved US$ 200 million for funding a mega electricity production project in Egypt.
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Manama, Bahrain: Islamic Bank today announced a net profit of $5.1 million for the first half-year of 2011, 264% higher than last year.
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Thursday, 04 August 2011 03.08.2011, Jeddah, KSA - The Board of Executive Directors of the Islamic Development Bank (IDB) concluded its 277th meeting in Jeddah, Kingdom of Saudi Arabia, approving US$ 494.73 million in financing for new development projects in member countries and Muslim communities in different parts of the world including a US$ 1 million urgent relief aid to the famine stricken Somalia. Chaired by IDB Group President, Dr. Ahmad Mohamed Ali, the meeting approvals included; “US$ 200 million South Helwan Power Plant Project in Egypt" and “US$ 200 million Ashungahj Power Station Efficiency Improvement Project in Bangladesh", in addition to other projects in Lebanon (US$ 37.2 million), Burkina Faso (US$ 23 million), Cameroon (US$ 16.4 Million), Senegal (US$ 15.6 million).
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respect of Technical Assistance: - US$ 300,000 as T.A grant operation for Al- Azhar Center for Teaching Arabic to Non-Native Speakers The Board of Executive Directors of the Islamic Development Bank regularly meet every two months to discuss the Bank’s development mandate through financing and rendering technical assistance to numerous projects in the Bank’s 56 member countries as well as Muslim communities worldwide. In late June, 2011, IDB Group President Dr. Ahmad Mohamed Ali stated during the Bank’s 36th Annual Meeting in Jeddah that the total amount of development financing of the Bank has exceeded US$ 70 billion since it commenced operations in 1975.