Islamic Development Bank Ready and Willing to Support Al-Madinah's Development Projects

Addressing the opening session of the virtual workshop on the concept of a post-COVID-19 development programme for Al-Madinah, the Chairman of Islamic Development Bank Group (IsDB), Dr Bandar bin Muhammad Hamza Hajjar, has stated that the IsDB is eager to support development projects in Al-Madinah through all available mechanisms. 

This would include the Awqaf Property Investment Fund (APIF), which will support the Al-Bayan Charitable Foundation for Education in Al-Madinah and plans to provide the Foundation with regular revenue by contributing to the construction of a 4-star hotel at a cost of USD 37 million, of which APIF contributes USD 8.8 million. In addition, Dr Hajjar also noted that IsDB has established a SAR 1 b...