ADB, Islamic Development Bank to Set Up Shari'ah-Compliant Infrastructure Fund

MANILA, PHILIPPINES – The Asian Development Bank (ADB) and the Islamic Development Bank (IDB) today agreed to set up Asia's first major multi-country Islamic infrastructure fund.

The Islamic Infrastructure Fund, targeted at $500 million, will make Shari'ah-compliant equity investments in the 12 countries that are borrowing members of both development banks; currently Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, Kyrgyz Republic, Malaysia, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.

Read the full news release.

Listen to ADB's Johanna Klein as she discusses the new Islamic infrastructure fund: