The decision was made by the Board of Executive Directors which concluded its 250th session in Tehran, The Islamic Republic of Iran, on Monday 18th of February 2008, under the chairmanship of H.E. Dr. Ahmad Mohamed Ali.
The Board has also approved The Islamic Development Bank Program for Africa which aims at achieving the Millennium Development Goals (MDG) in Member Countries.
The approvals included the issuance of the Mid-Term Bonds Program (Sukuk) totaling 1 billion Malaysian Ringgits (about US$ 303 million) to enhance the Bank's financing activities in Malaysia.
The Board was informed of the items approved by the IDB President during the previous and current sessions of the Board involving 12 Trade Operations, 4 Technical Assistance Operations in addition to the Bank's participation in two Rollback Malaria Projects in Mali and Gambia.

The Board discussed a number of other issues including a Progress Report on the Implementation of the “IDB 1440H Vision” as well as a report on the 4th General Increase in the Authorized and Subscribed Capital Stock of the IDB. The increase is based on the decision of the Third Extraordinary Islamic Summit in Makkah (2005) to double the Bank's capital in order to enhance its role in fostering social and economic development in Member Countries. Accordingly, the Bank's Board of Governors approved the raise of the Authorized Capital by ID 15 billion to be ID 30 billion (US$ 42 billion) and the Subscribed Capital by ID 6.9 billion to be ID 15,8 billion ( US$ 22 billion).

Details of the Board approvals and items for information reviewed
during the session are as follows:

DEVELOPMENT PROJECTS:
 US$ 76.7 million Istisna'a financing for Mashhad Sewage Project – Iran.
 US$ 80 million Istisna'a financing for Heightening of Roseires Dam Project – Sudan.
 US$ 103.3 million Istisna'a financing for the Construction of the Akieni-Okondja Road Project – Gabon.
 US$ 10.3 million Loan financing for the Livestock Development Project in Eastern Senegal and Upper Casamance Region – Senegal.
 US$ 10 million Loan financing for the Rehabilitation and Upgrading of Irrigation and Water Resources Management Project in Pashtun-Zarqun District – Afghanistan.
 US$ 13.17 million Loan financing for the Dangara Valley Irrigation Network Project Phase-II – Tajikistan.

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND:

 US$ 380,000 for the Construction of a Girls’ Section in Elci Ibrahim Pasina Secondary School, Travnik, Bosnia and Herzegovina.
 US$ 150,000 for the Construction of Girls Hostel Building at Jamal Mohamed College, Khaja Nagar, Tiruchirappalli District, Tamil Nadu State, India.
 US$ 100,000 for the Upgrading of the Leadership Training Center for the Council of American-Islamic Relations (CAIR), an NGO concerned with Muslim affairs in the US, based in Washington D.C., USA.
 US$ 440,000 for the Establishing of a Three Year Program to Support Disadvantaged Youth in Mombassa, Kenya, in the framework of the standing cooperation between the Bank and the Youth Business International (YBI), a charity set up by HRH Prince Charles to help young people start up their own business by providing them with expertise and financial support.
 US$ 800,000 for the Construction of Ten Schools in Peoples’ Republic of China.

APPROVALS BY THE PRESIDENT:

The following are approvals of trade operations and Technical Assistance made by the President of the Bank between the previous and present sessions of the Board:

Import Trade Financing Operations (ITFO):

 US$ 150 million for three Trade Co-Financing Operations for the People’s Republic of Bangladesh in favor of the Ministry of Power, Energy and Mineral Resources to purchase Crude Oil and Petroleum Products.
 US$ 7 million for Trade Co-Financing Operation for the Republic of Djibouti in favor of Ministry of Economy, Finance, Planning & Privatization purchase Refined Petroleum Products.
 US$ 65.3 million Trade Syndicated Operation for the Islamic Republic of Iran in favor of Iran Power Plant Projects Management Co. .to purchase Raw Materials and Spare Parts.
 US$ 2.18 million for IDB Syndicated Pre Export Murabaha Operation for Cote D’ivore in favor of Compagnie Bancaire Del’Atlantique (COBACI) to purchase and export Cocoa.
 US$ 50 million for two Import Trade Financing Operations for the Islamic Republic of Pakistan in favor of Ministry of Petroleum & Natural Resources to purchase Crude Oil and Petroleum Products.
 US$ 50 million for two Trade Financing Operations for Saudi Arabia including US$ 25 million in favor of Ahmad Hamad Algosaibi & Brothers Company to purchase Raw Material, and US$ 25 million Syndicated Murabaha Operation in favor of Attieh Steel Company Ltd. to purchase Steel & Construction Materials.
 US$ 5.00 million for Trade Financing Operation for the Republic of Sierra Leone in favor of the Ministry of Finance to purchase Refined Petroleum Products (Marine and Diesel Fuel).
 US$ 15.00 million for Trade Financing Operation for the Republic of Turkey in favor of CALISKAN IC VE DIS TIC. SAN. LTD. STI. to purchase Coal.

Technical Assistance Operations and other Projects:

 US$ 244,000 T.A. (Grant) to the Sepehr Bam Charity Organization – Iran, an NGO set up in the aftermath of the earthquake hit Bam town in Iran in December 2002.
 US$ 237,000 T.A. for the National Information Technology Centre (NITC) – Jordan.
 US$ 288,000 T. A for the Institutional Capacity Building of the Awqaf National Institute in Mauritania (NIAM) – Mauritania.
 US$ 105,000 T.A. (Grant) for Feasibility Study for Establishment an Export Promotion Center in Bahrain.
 US$ 5 million to support Malaria Prevention and Control Project in the Republic of Mali.
 US$ 3 million to support Malaria Prevention and Control Project in the Republic of Gambia.
 US$ 500,000 IDB Contribution to the Budget of the ITFC Trade Cooperation and Promotion Program (TCPP) for 1429H.