5th Oct. 2010, Jeddah, – The 271st session of the Board of Executive Directors of the Islamic Development Bank (IDB) approved today, under the Chairmanship of Dr. Ahmad Mohamed Ali, President of IDB, financing for new development projects totaling US$ 772.3 million.
Nine member countries have been approved to receive financing including Indonesia, Uzbekistan, Bangladesh, Pakistan, Sudan, Turkmenistan, Gambia, Mauritania, and Albania. The financing also included technical assistance in the form of grants for developmental projects in Benin, Chad, Togo, GCC, and grants and concessional loans for Sudan. The approved financing included also health and educational projects directed towards communities in non-member countries, including Congo, Fiji, India, and South Africa.
It is worth mentioning that five of the nine projects approved for member countries are considered as mega projects which fall in line with the strategic objectives of the IDB and are in consistent with the IDB Vision 1440H.
Details pertaining to the approved projects are as follows:
- US$ 167.2 million istisna’a for Reconstruction and Upgrading of M39 Road in Surkhandarya Region - Uzbekistan
- US$ 136 million istisna’a plus US$ 10 million istisna’a (under the terms and conditions of Jeddah Declaration) plus US$ 6 million loan plus US$ 0.45 million T.A. grant for Integrated Community Driven Development (ICDD) Phase-II Project – Indonesia
- US$ 140 million istisna’a for Padma Multipurpose Bridge Project - Bangladesh
- US$ 90 million leasing for Uch II Powere Expansion Project – Pakistan
- US$ 80 million istisna’a for Algadarif Water Supply Project – Sudan
- US$ 25.73 million istisna’a plus US$ 6.91 million installment sale plus US$ 3.40 million loan for Development and Quality Improvement of the Semarang State University Project – Indonesia
- US$ 15.01 million loan plus US$ 14.93 million istina’a for construction of KIFFA-KANKOSSA Road Project – Mauritania
- US$ 15.13 million istisna’a plus US$ 13.64 million installment sale for Construction and Equipping of new Dental Care Project - Turkmenistan
- US$ 14.16 million istisna’a plus US$ 13.62 million loan for Aftouti Elchagui Zone East Water Supply Project – Mauritania
- US$ 15.86 million loan plus US$ 0.4 million T.A. grant for Community-Based Infrastructure and Livelihood Improvement Project (CILIP) – The Gambia
- US$ 4 million loan plus US$ 0.3 million T.A. grant for Microfinance Project – Albania
- US$ 0.3 million T.A. grant for capacity building project- Benin
- US$ 0.286 million T.A. grant for capacity building project – Chad
- US$ 0.266 million T.A. grant for capacity building project – Togo
- US$ 0.220 million T.A. grant for electronic library project – Standard Organization of the GCC countries
- US$ 4.3 million that included two T.A.s grants and two concessional financing (loans) to support the health and educational sector in the Southern part of Sudan
Meanwhile, the meeting also approved a total of US$ 1.090 million worth of financings for Congo (0.300 million), Fiji (0.150 million), India (0.290 million), and South Africa (0.350 million), in the areas of education, health and vocational projects in the framework of IDB WAQF Fund directed towards communities in non-member countries.