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Report: Islamic Development Bank to launch $2.5B benchmark sukuk

Islamic Development Bank President Bandar Hajjar said the Saudi Arabia-based lender will launch a $2.5 billion benchmark-sized sukuk "soon," Reuters reported March 5.

Hajjar said the Islamic bond would support spending on education, health and infrastructure, adding that the bank is also planning to establish a $500 million fund to support science and technology startups.