Shanty Nambiar

IDB plans USD 500 mn Sukuk end of June

Saudi Arabia’s Islamic Development Bank (IDB), plans to sell USD 500 mn Sukuk by end of June, reported Shanty Nambiar on Bloomberg. The Jeddah-based bank plans to raise as much as USD 5 bn over the next 5 years through 2014 to fund the bank's projects in member countries.

IDB also plans to start a new USD 1.5 bn to USD 2 bn infrastructure fund funded by public and privat sector as joint investors.

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