The Board of Executive Directors of the Islamic Development Bank (BED) approved new finances amounting to US$ 419.7 million for development projects and technical assistance in member countries and Muslim communities in non-member countries. In addition, the Board of Directors of the Islamic Solidarity Fund for Development (ISFD) approved US$ 12 million in favour of Yemen.

The new approvals by BED include (3) development projects in favour of Indonesia, Morocco and Syria, and (6) grants from Waqf Fund (Islamic endowment) in favour of India (2 projects), Denmark, Kazakhstan, China and Sir Lanka

The Board (IDB), which concluded its 258th session recently, at the Bank's headquarters in Jeddah, was also informed of (2) other approvals made by the President, IDB between the last and present sessions including Capacity Building of Small Farmers in Al-Mudawara Area, Jordan, and Women and Child Development Centre in Hail Region, Saudi Arabia.

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

DEVELOPMENT PROJECTS
- US$ 87.55 million Istisna’a financing for the Belawan Port Development Project, Indonesia.
- US$ 196.7, million Installment Sale for Kenitra Gas Turbine Power Plant Project, Morocco.
- US$ 132.91 million Leasing for Deir Ali Combined Cycle Power Plant Project – Syria.

PROJECTS FINANCED BY THE ISLAMIC SOLIDARITY FUND FOR DEVELOPMENT

- US$ 12 million Loan financing + TA Grant for participating in the Agricultural Development Project in Abyan/Yemen.

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND

- US$170,000 for Construction of Senior Secondary School for Muslim Education Society in Tanur Village, Mallapuram District, Kerala State, India.
- US$ 295,000 for the Renovation of Al-Quds School Building in Copenhagen, Denmark.
- US$ 1 million for the Extension of the Egyptian University of Islamic Culture, Almaty, Kazakhstan.
- US$ 235,000 for the completion and Equipping of Ningxia Muslim Vocational Training Center, Ningxia Hui Autonomous Region, China.
- US$ 165,000 for the construction of English Medium Primary School and Teachers Training Institute for Al Ameen Progressive Education Society at Belgaum City, Belgaum District, Karnataka State, India.
- US$ 152,000 for the construction of Girls Hostel Building for Sumaiya Ladies Arabic College in Kinniya, Trincomalee district of Sri Lanka.

APPROVALS BY THE PRESIDENT
The following are approvals of Technical Assistance made by the President of the Bank between the previous and present sessions of the Board:
- US$300.000 T.A (Grant) for the capacity building of small farmers in Al-Mudawara Area - The Hashemite Kingdom of Jordan.
- US$220.000 T.A. (Grant) for the Women Development Program in Hail Region – Saudi Arabia.