02.04.2012, Khartoum, Sudan – The 282nd meeting of the Board of Executive Directors of the Islamic Development Bank (IDB), taking place in Khartoum, approved US$ 389.3 million of new financing to support development drive in member countries and Muslim communities in different parts of the world.

Chaired by IDB Group President, Dr. Ahmad Mohamed Ali, the meeting approved financing for development projects in Sudan (US$ 49 million for Rehabilitation of New Halfa Agricultural Scheme), Bahrain (US$ 120 million for the national Water Transmission and Storage Infrastructure Development Project – Phase II), Iran (US$ 116 million for Sarney Dam and Water Supply System Project), Uzbekistan (US$ 37 million for the development of Oncology Services Project), Mauritania (US$ 20.4 million for construction of Nema-Bangou-Bassikounou-Fassala Road Project), Uganda (US$ 15 million) and Dijbouti (US$ 5 million) for the East Africa Regional Dry-lands Programs as well as Somalia (US$ 5 million) for basic services; Lebanon (US$ 14 million for the Secondary and Tertiary Healthcare Services Project), The Gambia (US$ 10 million for Bilingual Education Project), in addition to US$ 2 million in relief aid to drought hit Sub-Saharan African countries.

The meeting gave the go ahead for a soft loan for the benefit of the regional program of arid lands in East Africa (to provide basic services to residents of pastoral areas in Uganda and Djibouti). The Board also approved US$ 867,000 in terms of grants from the Waqf Fund of the Bank for the benefit of educational projects in Muslim communities in a number of non-member countries including; Denmark, Ethiopia, Zimbabwe and the United States of America.

During the meeting the Board reviewed progress reports on the implementation of the Jeddah Declaration, a US$ 1.5 billion program approved in June 2008 to assist the IDB member countries affected by the global food crisis, and a report on IDB Group’s Member Country Partnership Strategy focusing on the development priorities for member countries. It also discussed other reports on the status of subscription to the overall capital increase of the Bank for the fourth consecutive year, as well as the progress made on the implementation of the Bank's program to support youth employment in Arab countries.

On behalf of the IDB Group, the Board of Executive Directors expressed their appreciation to the President, government and the people of the Republic of Sudan for the excellent arrangements provided to make the 37 Annual Meeting of the Board of Governors of the Bank and side events a great success. The 282nd meeting of the IDB Board of Executive Directors will remain in session until 4th April.