Qatar Islamic Bank (QIB) signed a QAR 1 Billion Financing deal with Daewoo Engineering and Construction Co. The financing agreement will support Daewoo's current projects in the State of Qatar including the construction and upgrading of the E-Ring Road. This project will expand the number of lanes from 8 to 14, enlarge the highway by 4.5km and build a new 4km long section. The project value is estimated at QAR 2.25 Billion and was recently awarded to Daewoo E&C by the Public Work Authority (Ashghal). QIB's participation in the project comes as part of the bank's strategic vision to provide Islamic financing solutions to key stakeholders that are participating in the country's major development projects.