The Board initially approved the Phase-1 of the Pilot Project of IDB's Microfinance Development Project (IDB-MDP) to be implemented in Bangladesh, Indonesia and Sudan. Upon successful implementation the project would be rolled out to other Member Countries. The Board accepted the proposal of the Lebanese government for utilizing the US$ 250 million reconstruction program allocation for funding new priority projects and approved the list of proposed projects in addition to providing further facilities.
During the meeting the Board approved the recommendations of a study on the Islamic Research and Training Institute (IRTI) to improve its services towards developing Islamic economy, and Islamic banking services. The Board also reviewed reports on Health Financing in Least Developed Member Countries, Status and Achieving the Target of Universalizing Education by 1440H, the Implementation of the IDB 1440H Vision, and a report on issues raised by the IDB Governors during the 32nd Annual Meeting in Dakar, Senegal, last May.

DEVELOPMENT PROJECTS
The details of project financing and trade operations approved by the Board are as follows: US$ 15.1 million Istisna’a financing for the reinforcement of Abidjan Water Supply Project, Cote d'Ivoire;
US$ 7.7 million for the Loan financing for reconstruction of Westfield-Sukuta Road Project – The Gambia;
US$ 62 million Installment Sale financing for Phosphate Production Capacity for Togo; US$ 22.7 million Istisna'a financing for construction Upgrade Project – Togo.
US$ 22.7 million Istisna'a financing for Samendeni Dam Project – Burkina Faso;
US$ 16.8 million as Istisnaa financing and US$ 5.2 million as Installment sale financing respectively for the upgrading and development of the State Islamic University of Sunan Gunung Djati, Bandung, Indonesia;
Financing for two projects in Maldives: 1- US$ 12.6 million for reconstruction of Housing Units for the Tsunami Victims under the IDB Tsunami Assistance Package and US$ 15 million Istisna'a financing for construction of Harbours;
US$ 3.6 million supplementary loan financing for the Taraz Talas Suusamyr Road Project, Kyrgyz Republic;
US$ 163 million financing for two projects in Jordan (comprising US$ 100 million lease financing for the expansion and operation of the Queen Alia International Airport and a combined US$ 63 million leasing and loan financing for the Electricity Transmission Project);
US$ 6.3 supplementary loan financing for the Nouakchott Water Supply Project – Mauritania;
US$ 189 million installment sale financing for Mohammedia Gas Turbine Power Plant Project – Morocco;
US$ 29.3 million to exercise Pre-Emptive rights by IDB in the Equity Capital Increase of Bahrain Islamic Bank- Bahrain.

ITEMS FROM THE IDB WAQF FUND :
US$ 500,000 Loan for renovation of American Islamic College in Chicago, Illinois, USA;
US$ 250,000 for the Procurement of Laboratory Equipment for Al-Maktoum College of Engineering and Technology, Dar Es Salaam, Tanzania;
US$ 150,000 for the Construction of Hostel Building at Maulana Madani Memorial English School, Deoband Town, Saharanpur District, Uttar Pradesh State, India;
US$ 600,000 for the Rehabilitation of Magburaka Islamic College at Magburaka, Tonkolili District, Sierra Leone;
US$ 230,000 for the construction and equipping of Jiamusi Muslim Vocational Training and Cultural Center, Heilongjiang Province, China;
US$ 270,000 for the Expansion of Moneerah Integrated School, Ubaldo Laya, Higan city, Philippines;
and US$ 1.5 million (US$ 500,000 as grant and US$ 1 million as loan) for the construction of the International University of Sarajevo, Bosnia and Herzegovina

APPROVALS BY THE PRESIDENT :
The following are Operations approved by the President of the Bank between the previous and present sessions of the Board in respect of Trade Financing Operations, Export Financing Scheme and Technical Assistance.
Two Trade Co-Financing Operations for the People’s Republic of Bangladesh in favor of the Ministry of Power, Energy and Mineral Resources for US$ 100 million to purchase Crude Oil and Petroleum;
Murabaha Financing Operation for Islamic Republic of Iran in favor of Bank Mellat, Iran for US$ 24.6 million to purchase raw materials including jute products, fertilizers, cement, cotton and clinker.
Two Murabaha Financing Operations for The Hashemite Kingdom of Jordan in favor of the Housing Bank for Trade & Finance, & Jordan Kuwait Bank Jordan for US$ 32 million to purchase raw materials including jute products, fertilizers, cement, cotton and clinker.
Trade Co-Financing Operation for Kuwait in favor of Kuwait Cement Co. (KCC) for US$ 25 million (on best efforts basis) to purchase Raw Materials & spare parts.
Murabaha Financing Operation for Republic of Lebanon favor of Credit Libanais Bank, Lebanon for US$ 7 million to purchase raw materials including jute products, fertilizers, cement, cotton and clinker.
Trade Financing Operation for Saudi Arabia in favor of SAAD Trading Contracting, and Financial Services Co. for US$ 25 million to purchase Construction Materials, Furniture, Fittings & Equipment.