The 269th meeting of the Islamic Development Bank’s Board of Executive Directors convened on Saturday, 07 August, 2010, at the bank headquarters in Jeddah, Kingdom of Saudi Arabia. Presided over by the President of the IDB Group H.E. Dr. Ahmad Mohamed Ali, the meeting decided on financing projects worth more than USD 620 million. Amongst decisions taken in this B.E.D. meeting was the approval of an USD 11 million emergency humanitarian relief and rehabilitation package for Pakistan to deal with the aftermath of the tragic flooding in the country. The meeting also approved IDB Group’s membership in the “International Financial Institutions (IFI) Anti Corruption Task Force” which aims at joining hands with the international institutions in combating fraud and corruption. Major approvals of the meeting were financing the “OCP Jorf Lasfar Port Expansion USD 150 million project” in Morocco, the USD 120 million “Behna Combined Cycle Power Plant Project in Egypt” as well as the USD 150 million “Khartoum New International Airport Project in Sudan”.
The meeting adopted resolutions on financing of different infrastructural, educational and health projects in several other IDB member countries including Iran, Burkina Faso, Djibouti, Gambia, Mauritania, Uzbekistan, Guinea, Cameroon and Sudan.
Meanwhile, the meeting approved grants to building cultural, educational and vocational centers in 6 different projects through the IDB Waqf Fund in Argentina, Ethiopia, Paraguay, Brazil, Armenia and Ukraine.
Details pertaining to approvals by IDB Board of Executive Directors are as follows:
- USD 150 million istisnaa’ and / or leasing (12 years including 2 years of gestation) to be underwritten by IDB for OCP Jorf Lasfar Port Expansion Project – Morocco
- USD 150 million istisnaa’ (16 years starting after 4 years of gestation) for Khartoum New International Airport Project – Sudan
- USD 120 million leasing (15 years starting after 4 years of gestation) for Benha Combined Cycle Power Plant Project – Egypt
- USD 65.6 million istisnaa’ (12 years after a gestation of 3 years) for Rural Electrification Project – Final Phase – Morocco
- USD 27.90 million istisnaa’ (12 years starting after a gestation period of 4 years) for East Tehran Grain Silo Project – Iran
- USD 17.80 million loan (25 years including a grace period of 7 years) for “Technical Secondary Education Project - Cameron”
- USD 15.70 million loan (25 years including 7 years of grace) for The Development of the University of the Gambia Project – The Gambia
- USD 14.20 million loan (25 years including 7 years of grace) Conakry Water Supply Project – Guinea
- USD 13.50 million loan (25 years including 7 years of grace) for Ali Sabieh Regional Hospital Project – Djibouti
- USD 11.70 million loan (25 years including 7 years of grace for Support to Secondary Education Sector – Uzbekistan
- USD 9.80 million loan (25 years including 7 years of grace) for Basic Education Development Project-4 – Burkina Faso
- USD 6.20 million loan (25 years including 7 years of grace) for Vocational Literacy Program for Poverty Reduction – Mauritania
- USD 4.8 million loan (30 years including 10 years of grace) for the program on combating malaria in Sudan
Meanwhile, the full details on the Board of Directors’ final approvals for grants to IDB WAQF Fund are as follows:

- USD 420,000 for expansion of Omar Bin Khatab School for Islamic Center of Argentina, Buenos Aires, Argentina

- USD 400,000 for construction of Brazilian Arabic School for the Islamic Cultural Center in Foz Do Iguacu, Brazil
- USD 400,000 for expansion of the Islamic Cultural and Vocational Training Center in Kiev, Ukraine
- USD 380,000 for construction of Islamic School for The Islamic & Cultural Center of Paraguay, Asuncion, Paraguay
- USD 350,000 for construction of Students’ Dormitory and Educational Center in Batumi, Georgia
-USD 308,000 for construction of School Building for Dire Dawa Secondary School, Dire Dawa, Ethiopia