IsDB to Disburse USD 150 Million for Development of Special Agro-Processing Zones in Nigeria

The Islamic Development Bank (IsDB) has stated that it will disburse USD 150 million over the next few days for the development of Special Agro-Processing Zones in Nigeria.

Why it Matters?

Dr Mansur Muhtar, Vice President, Country Operations at IsDB, noted that the IsDB focuses on projects in social and fiscal infrastructure and to implement these projects, it places a lot of emphasis on regional connectivity. Sanusi Lamido, a former Governor of the Central Bank of Nigeria, noted that one of the key impacts of Islamic finance is that it is an effective alternative for resource mobilisation and deemed a fair and equitable manner to allocate resources.

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