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Islamic Bank to lend Suriname $60 million for health sector
Published on February 5, 2014 Email To Friend    Print Version

By Ray Chickrie
Caribbean News Now contributor

JEDDAH, Saudi Arabia -- On Sunday, the Islamic Development Bank (IsDB) board of directors approved a $60-million loan for Suriname’s health sector, which was part of US$705.18 million of new financing focusing on infrastructure, and human development in member countries and the education sector in Muslim communities in non-member countries according to a press release from the bank.

On the human development front, the board approved US$73.83 million, which included US$60 million for “Health System Strengthening Project” in Suriname. It is the biggest single loan that Suriname has received from the IsDB since joining the bank.

Suriname and the IsDB recently signed an interim member country partnership strategy (MCPS), signaling a major shift towards the consolidation of ties between Suriname and the IsDB since Paramaribo joined the bank in 1997.

In addition to this $60 million, the IsDB, under the interim MCPS with Suriname, will provide support in four major areas namely: i) healthcare services; ii) skills development / vocational training; iii) sea transportation (i.e. rehabilitation and expansion of the New Nickerie Seaport through dredging and construction of warehousing facilities); and iv) institutional capacity building including cyber security.

According to the press release, the board members reviewed several reports: a detailed report on the course of partnership strategy of the Bank with member countries, a report on the subscription to the capital of the Bank as per the Bank’s fifth general capital increase.

The board also approved additional emergency assistance of US$2 million for Syrian war-affected refugees and internally displaced persons and a US$2 million aid for assisting Palestinian farmers who suffered damage to their crops as a result of an unexpected winter storm.
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