Nigerian Govt, Islamic Bank sign $523,823 funding pact


The Nigerian Government recently signed in Marrakesh an agreement with the Islamic Development Bank (IsDB) Group for a $523,823 technical assistance grant for capacity building and logistics upgrade of the Hajj Commission and for improving the cotton, textile and garment value chain in the country. The 44th annual meeting of the IsDB was held in Morocco.

The agreement was signed by Nigerian finance minister Zainab Ahmed and IsDB Group president Bandar M H Hajjar, according to Nigerian media reports.

Founded in 1973 by the finance ministers at the first Organisation of the Islamic Conference with the support of the then king of Saudi Arabia, IsDB is a multilateral development financing institution located in Jeddah.

The National Hajj Commission of Nigeria will get $243,823, while the ministry of industry, trade and investment will receive $280,000, Ahmed said.

Categories: Africa, Business, Nigeria, Textile

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