IDB approves $95.24 million for low-cost house financing
The Islamic Development Bank (IDB) has approved $95.24 million for the Rural and Peri-Urban Housing Finance Project in Bangladesh, according to a IDB press release. The approval was given at the 320th meeting of the Board of Executive Directors of the Jeddah-based development bank held on Sunday. The meeting also approved a total of $1096.4 million to support a large number of development projects in its 57 member states, including Bangladesh.
The development projects cover various sectors including power generation, water supply and sanitation, industry, housing, communications, agriculture and health.
The assistance of the IDB also covers a number of educational and health projects for Muslim communities in non-member countries, the release said.
With the financial assistance from IDB, state-owned House Building Finance Corporation (HBFC) will provide low-cost home financing to low-income rural people living outside the metropolis of Dhaka and Chittagong.
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