Islamic Development Bank provides $289.52 million for housing project in Bangladesh
During the signing ceremony, Finance Minister Abul Hassan Mahmood Ali, MP and Chairman of Islamic Development Bank Group Dr Muhammad Al Jasser were present.
The Islamic Development Bank has provided a loan of $289.52 million for the second phase of the Rural and Peri - Urban Housing Finance Project.
A loan agreement was signed in this regard during IsDB's Board of Governors meeting 2024 in Riyadh, Saudi Arabia yesterday (29 April).
The agreement was signed by Secretary of the Department of Economic Relations Md Shahriar Quader Siddiqui on behalf of the Government of Bangladesh and Vice President Dr Mansur Muhtar on behalf of the Islamic Development Bank.
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During the signing ceremony, Finance Minister Abul Hassan Mahmood Ali, MP and Chairman of Islamic Development Bank Group Dr Muhammad Al Jasser were present.
The housing project will be implemented by Bangladesh House Building Finance Corporation under the Financial Institutions Division.
Through the scheme, affordable housing loans will be provided to ensure planned, sustainable and eco-friendly housing for the low and lower-middle income groups living in rural and peri-urban areas of the country.
Implementation of the project will increase the ability of Bangladesh House Building Finance Corporation to provide home construction loans and ensure optimum utilisation of land and conservation of cultivable land.a
