ISLAMIC BANK LAUNCHES $1 BILLION FINANCING PLAN TO BACK RENEWABLE ENERGY
The Islamic Development Bank has launched a $1 billion financing plan to support renewable energy.
Working with the Arab Petroleum Investment Corporation, the initiative will support utility projects in the 57-member Organization of Islamic Cooperation countries.
The funds will be for electricity generation and transmission projects using renewable energy or natural gas, as well as water and waste management facilities.
The financing will initially run for a three-year period.
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