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World Bank to set up Arab infrastructure fund

Posted on 06 April 2011

Global development banks said on Tuesday they were looking to raise up to $1 billion to leverage more funding for rail, road, electricity and other infrastructure projects in Arab countries under pressure to deliver better services to their people.

In a joint statement, the World Bank and Islamic Development Bank said they would mobilize support for a new Arab Financing Facility for Infrastructure to bolster economic growth and meet the needs of the region’s growing population……………………………………..Full Article: Source

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