Just in:
Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Andertoons by Mark Anderson for Thu, 28 Mar 2024 // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Renewables Surge Sets Record, But Global Equity Lags // Party Nominees Refusing To Contest: Major Perception Threat For BJP // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // German Job Market Resilience Bodes Well for Economic Recovery // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Global Audience to Witness Thrill of Dubai World Cup // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // Emirates Post Speeds Up Deliveries for GCC with Special Day // No running of govt from jail, says Delhi Lt Governor // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters //
HomeCompaniesIsDB provides US $5 million support for solar energy project in Jordan

IsDB provides US $5 million support for solar energy project in Jordan

Jeddah, Kingdom of Saudi Arabia, 29 December, 2016 

The Islamic Development Bank (IsDB), based in Jeddah, Kingdom of Saudi Arabia, is providing a US $5 million financing support for construction of a solar power plant which is expected to contribute to the sustainability and financial resource optimization of the “King Hussein Cancer Center (KHCC) Expansion Project” in Jordan.   

ADVERTISEMENT

The approval came during the 316th meeting of the members of the board of directors of IsDB, in Jeddah. The loan is expected to be repaid within a period of 20 years inclusive of a five year grace period.

IsDB Group President, H.E. Dr. Bandar Hajjar, underlined, on the occasion, that the Bank started cooperation with the KHCC since the center was established in 1991. “At the IsDB Group, we take pride in the high quality of services rendered by the KHCC and are committed to supporting the outstanding initiatives by the Center,” President Bandar Hajjar stated.

Also commenting on the board’s decision, IsDB Vice President for Sector Operations, Dr. Mansur Muhtar, reiterated that the Islamic Development Bank remains steadfast in its bid to provide special support for the socio-economic development of the member countries and the funding for the solar power plant in Jordan renders parallel support to both the energy and health sectors in Jordan.

Advertisement

Feasibility studies of the project suggest that the 14 MW “Solar Photovoltaic Power Plant”, once operational, shall save the KHCC more than US $7 million in annual electricity expenses and the relevant amounts can be redirected towards other high impact activities such as Research and Development (R&D), acquiring state-of-the-art medical equipment, providing treatment to the less privileged patients, etc. The funding support for construction of the power plant comes exactly at a time when the KHCC is embarking on providing services to a greater number of patients seeking diagnosis and medication both from within Jordan and neighboring countries which is tantamount to a hike in expenses.

The energy sector in Jordan is drawing in foreign investments meant to develop the renewable energy projects in the country and according to Dr. Waleed Abdelwahab, Director, IsDB Infrastructure Department, the Bank’s contribution to the construction of this solar power plant at this stage is of pivotal significance to support Jordan’s renewable energy program.       

-Ends- 

     

© Press Release 2016

© Copyright Zawya. All Rights Reserved.

Via Zawya

ADVERTISEMENT

ADVERTISEMENT
Just in:
Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Universal Language for Healthcare: General Authority Embraces Global Coding System // Experts come together to support updating the city’s nature conservation masterplan // Ingdan Announces 2023 Annual Results // No running of govt from jail, says Delhi Lt Governor // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // German Job Market Resilience Bodes Well for Economic Recovery // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // Emirates Post Speeds Up Deliveries for GCC with Special Day //