Waqf Fund Approves $780,000 for Projects in BiH and Three Other Countries

The Waqf Fund of the Islamic Bank for Development (IDB) has approved a grant of $780,000 for education development in BiH, India, Burundi, and Malawi, the bank announced, reports the BH News Agency Patria (NAP). Which projects are involved has not been disclosed, but it is stated that it is a project to support Muslim communities in countries that are not members of this bank or the Organization of Islamic Cooperation.

Bosnia and Herzegovina is not among the largest approved projects of this bank at the board meeting held in Jeddah, Saudi Arabia. A total of $515 million has been approved for socio-economic projects for member and non-member states, including one million for refugees in the Central African Republic.

The largest amounts were approved for the energy sector and power plants in Pakistan, $220 million, and for a power plant in Morocco, $90 million. Significant funds were also approved for projects in Senegal, Mauritania, Cameroon, Burkina Faso, and Suriname.