Finances of IDB Total $9.8bn last year, show hike of 18%

The finances of the Islamic Development Bank (IDB) Group amounted to $ 9.8 billion in 2012AD, compared to $ 8.3 billion in 2011AD, up by 18%. The Bank pointed out in its 38th annual report that the global economic growth declined to 3.3% in 2012 compared to a growth rate by 3.8% for the year 2011, due to the low rate of growth in developed countries mainly, as well as developing countries. The report noted that the Bank's finances in the year 2008 amounted to $ 5.4 billion. The report said that the financed projects in the Bank's member states are in the fields of trade, infrastructures, electricity, water, sanitation, housing, and transportation.