213th Session of the IDB Board of Executive Directors Approves new finances for more than US$ 325 million
According to the IDB President, the new provisions consisted of more than US$ 124 million for financing development projects in 17 member countries, 3 technical assistance for three member countries for US$ 1.9 million and US$ 1.4 million as grants from the Waqf Fund for financing 5 educational projects in Muslim communities in non member communities and an emergency relief program in drought-stricken Horn of African countries such as Ethiopia, Eritrea and Kenya.
The Board took note of the approvals made by the IDB President for about US$ 198 million towards Import Trade Financing Operations, Export Financing and Technical Assistance between the current and last sessions of the Board of Executive Directors. The details of the new finances are as follows:
DEVELOPMENT PROJECTS
US$ 9.3 million as loan financing for the Greater Noakhali and Chittagong District Feeder Road Project for Bangladesh .
US$ 5.2 million as lease istisnaa financing for Center for Islamic Banking, Finance and Management, University of Brunei Darussalam, Brunei.
US$ 9.2 million as loan financing for the Dushanbe Water Supply Project for Tajikistan.
US$ 11.3 million as installment sale financing for Search and Rescue (SAR) Communication Systems for Flights & Shipping Accidents Project for Indonesia.
US$ 9.5 million as loan financing for Rural Water Supply Project, Kazakhstan.
US$ 7.6 million as loan financing for Chaghi Water Management and Agriculture Development Project, Pakistan.
US$ 9 million as loan financing for Feeder Roads Construction Project, Guinea.
US$ 4 million as loan financing for Rural Water Supply and Sanitation Project, Sierra Leone.
US$ 9 million as loan financing for Support to Health Sector Tambacounda Project, Senegal.
US$ 7.5 million as loan financing for OMVG Agro-pastoral Development Project in Gambia, Guinea and Senegal.
US$ 9.4 million as loan financing for Akkar Roads Project, Lebanon.
US$ 9 million as loan financing for Establishment of 22 Basic Schools in Southern Sudan, Sudan.
US$ 5.7 million as loan financing for Construction of Small & Medium Scale Irrigation Perimeters in Boghe, Mauritania.
US$ 13.5 million as loan financing for Al-Sharq Al Daleel Road Project (Phase II), Yemen.
US$ 4.7 million as loan financing The construction of Womens Dormitory at Kabul University Project, Afghanistan.
TECHNICAL ASSISTANCE
US$ 368,000 as TA grant for capacity building of the National Development Bank, Sierra Leone.
US$ 324,000 and US$ 232,000 respectively for Tajikistan and Uzbekistan as TA grant for organizing the investment conference in these two countries.
US$ one million as TA loan and grant for the Road Master Plan Development Study in Oman.
ITEMS FROM THE IDB WAKF FUND
US$ 150,000 towards participation in the remodeling, furnishing & medical equipping of Al-Markaz Polyclinic, Colombo, Sri Lanka
US$ 200,000 towards participation in the Construction of Manarat Nalchik School in Nalchik City, Russian Federation.
US$ 170,000 towards participation in the Construction of Fatima Girls Hostel, Uttar Pradesh, India.
US$ 130,000 towards extension of Grant for Participation in the Construction, Equipping and completion of Islamic Centers and Institutes in Mozambique.
US$ 200,000 towards participation in the Construction of Shandong Muslim Science & Technology Training Center, Jinan City, Province Shandong, China.
US$ 500,000 towards participation in the Emergency Relief Assistance to Countries Affected by Drought in the Horn of Africa.
APPROVALS BY THE IDB PRESIDENT
IMPORT TRADE FINANCING OPERATIONS (ITFO)
US$ 25 million for Bangladesh in favor of Ministry of Power, Energy and Mineral Resources, to purchase Crude & Refined Petroleum Products.
US$ 25 million for Egypt to purchase Wheat.
US$ 6 million for Turkey in favor of OZTIRYAKILER MADENI ESYA SAN. VE TIC. A.S. to purchase Steel Sheets, Coils and Electrical Kitchen Machines.
US$ 25 million for Egypt in favor of the Ministry of Supply to purchase Wheat.
Euro 6 million for Iran in favor of ZAM ZAM IRAN COMPANY to purchase Raw Materials, Machinery and Spare Parts for production of Soft Drinks.
US$ 25 million for Bangladesh in favor of Ministry of Power, Energy and Mineral Resources, to purchase Crude & Refined Petroleum Products.
US$ 15 million Turkey in favor of YAZICI DEMIR CELIK SANAYI VE TURIZM TICARET A.S. to purchase Iron and Steel Scrap.
A line of Import Trade Financing Operations in favor of Jordan National Bank, Jordan for US$ 5 million.
A line of Import Trade Financing Operation in favor of Islamic Bank of Senegal, Senegal for EURO 5 million to purchase Crude Oil for S.A.R. Senegal.
US$ 25 million for Bangladesh in favor of Ministry of Power and Energy and Mineral Resources, to purchase Crude & Refined Petroleum Products.
EXPORT FINANCING
A line of Export Financing Operation in favor of TURK EXIMBANK, Turkey for US$ 20 million.
An Export Financing Operation for export of Petroleum Products from United Arab Emirates to Yemen for US$ 15 million..
BADEA Export Financing Operation for the Export of Petroleum Products from Arab Countries to the Republic of Seychelles for US$ 4,800,000.
TECHNICAL ASSISTANCE
Technical Assistance Line for an amount of US$ 260,000 to the Awkaf Properties Investment Fund (APIF) from Technical Assistance Pool, Regional.
Technical Assistance Grant for US$ 125,300 for the Women Research Center Sudan, to enhance the Centers capacity to train women to work in handicrafts, etc.
The Board also discussed a number of other policy matters, financial and administrative issues of concern to the Bank. It also considered several follow-up reports on the progress of work in development projects being financed by the Bank.