INDONESIA - FINANCE - ICD to extend $157m of loans in 2012 (PT Sritex and PT Mandala Multifinance)

The Dubai-based Islamic Corporation for the Development of the Private Sector (ICD) says it will distribute US$157 million in sharia loans in 2012, comprising $17 million for three banks and $140 million for military uniform maker PT Sritex.

Director for the ICD’s financial institutions development department, Basel A. Al-Hag Issa, said ICD was still in discussions with some banks, but had yet to decide which banks would receive the $17 million loan. (source)

FINANCE - Islamic Relief Indonesia signs multimillion dollar contract with World Bank and Indonesian Government

Shabel Firuz, Islamic Relief Worldwide’s Indonesia Coordinator said, "Islamic Relief is very grateful to the Government of Indonesia, the World Bank and to all our colleagues who made this happen. Support of this nature is essential for sustaining Aceh's economic development and helps us to continue partnering with communities who survived the tsunami nearly six years ago. 

Islamic Relief’s Indonesia office has signed a contract worth $4.84 million dollars with the Government of Indonesia and the World Bank, which will be used to strengthen the sustainability and productivity of the fisheries sector in the province of Aceh, Sumatra.