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CAIRO: The Islamic Development Bank on Saturday approved $403 million for different projects in member countries, the bank said in a statement. A big chunk of the funds $344.5 million has been approved for the first phase of Egypt’s electric express train project. The 660-km railway project will connect the Egyptian port cities of Ain Sokhna on the Red Sea to Marsa Matrouh
Economic Affairs minister says project will increase country’s electricity generation, water storage capacity, and generate direct and indirect employment opportunities
The Jeddah-based Islamic Development Bank on Wednesday sold $1.7 billion in five-year Islamic bonds at 25 basis points over mid-swaps, a bank document showed.