Jeddah, Kingdom of Saudi Arabia, 29 March 2016 – The Board of Executive Directors of the Islamic Development Bank (IDB) announced that it will contribute US $1,100.3 million towards new development projects in IDB member countries and Muslim communities in non-member countries.

During its 311th session which wrapped up work on 28 March, 2016, in Jeddah, the Board also reviewed IDB’s programs, policies and future plans.
Chaired by IDB President Dr. Ahmad Mohamed Ali, the Board approved funding for the following projects:

• US $176.5 million for “Development of Four Higher Education Institutions Project” in Indonesia
• US $330 million for “Power Grid Enhancement Project” in Indonesia
• US $92.2 million for “Construction of the Kwala-Mourdiah-Nara Road Project” in Mali
• US $83.80 million for the “Kandadji-Niamey Transmission Line Project” in Niger
• US $42.42 million for the “Livestock Markets and Infrastructure Development Project” in Cameroon
• US $350 million for the “Sohar to Ibri Water Supply Project” in the Sultanate of Oman
• US $24.3 million for the “Sfax Integrated Agricultural Development Project” in Tunisia
• US $475,000 in special assistance grants under the IDB Waqf fund to support education and training projects for Muslim communities in the Democratic Republic of Congo, New Caledonia and
the United Kingdom
• US $99.2 million (MYR $400 million) of Sukuk in the Malaysian market from April through May, 2016

The Board members also reviewed several documents, including the Bank’s upgraded 10-year strategy, the updated 40th Annual Report of the IDB Group, and the report on the IDB Group Joint Forum held on 15th February, 2016 as well as the latest development effectiveness report of the IDB Group.