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IDB, ADB ink $133mln accord for wind power projects in Sindh

Posted on 21 May 2012

Jeddah-based Islamic Development Bank (IDB) in partnership with Asian Development Bank (ADB) has signed a $133 million agreement for long-term lease finance (Ijara) facility for the development of two wind power projects in Sindh province.
A consortium of financial institutions comprising National Bank of Pakistan, Faysal Bank, United Bank Limited, Allied Bank and Meezan Bank are also participating in the transaction. Under an innovative risk participation structure between IDB and ADB, the project companies were able to raise 100 percent Islamic financing for these important infrastructure projects………………………………………..Full Article: Source

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