Jeddah : Monday, July 17, 2006

A Memorandum of Understanding was signed at the Islamic Development Bank Headquarters between the Organization of Islamic Conference (OIC) Alliance for Children Victims of Tsunami, and a Philanthropist from the Kingdom of Saudi Arabia, for sponsoring 500 orphans of Tsunami victims.

The MoU was signed by H.E Ambassador Atta Al Manan Bakhiet Deputy Secretary General for International Affairs, OIC, and Mr. Ibrahim Bin Abderrahman on behalf of the Philanthropist.

The MoU aims at coordinating cooperation between the tow parties for sponsoring the victims and monitoring all relevant Information, data and files of sponsorship through the Islamic Development Bank. The sponsorship provides one Dollar a day per a sponsored child, with a total amount of US$ 2,700,000 for the hall sponsorship period, which extends to fifteen years till a sponsored child reaches maturity..

The two parties pledged to help those sponsored children whose their ages exceeded fifteen years by providing them the needed assistance and training skills to depend on their selves.