The Board of Executive Directors of the Islamic Development Bank (IDB) approved US$ 2.47 billion for its 1430H Operational Plan to finance various development projects, technical assistance projects and food security in member countries.
The Board of Executive Directors of the Islamic Development Bank (IDB) approved US$ 2.47 billion for its 1430H Operational Plan to finance various development projects, technical assistance projects and food security in member countries. The approval was made during the Board of Executive Directors’ 256th meeting at IDB headquarters in Jeddah under the chairmanship of H.E. Dr. Ahmad Mohamed Ali, IDB President. The approved Operations Plan include US$ 2.09 billion towards regular funding and US$ 381 million to be allocated towards programs and projects in member countries. Additionally, US$ 357 million in loans will be allocated under the Islamic Solidarity Fund for Development in order to fight poverty. The 1430H Plan was a 15% increase in the rate of growth from the 1429H Operational Plan. During its meeting, the BED approved the total amount of US$ 277 million for development projects and technical assistance in member countries, and grants from WAQF Fund for Islamic communities in non-member countries.. Details of project financing and trade operations approved by the Board are as follows:
DEVELOPMENT PROJECTS : - US$ 153.6 million Installment Sale for a Railway Tracks Project, Turkey. - US$ 52.65 million Istisna’a Financing for the Reconstruction of Irrigation and Drainage Network in Djizzakh and Syrdaria Regions, Republic of Uzbekistan.. - US$ 37.3 million Istisna’a Financing for the Arboutachatak-Bitkine Road Project, Chad - US$ 16.17 million Istisna’a Sale for the Dangoumana Hydro-Agricultural Development Project, Burkina Faso.

GRANTS FROM THE WAQF FUND : - US$ 125,000 for the Construction of Vocational Training Circle for Muslim Ladies Study Circle in Galle Town, Sri Lanka - US$ 115,000 for the Construction of Students Hostel Building for Jamiatul Islah Islalmia, Bhutaha Town, Nepal - US$ 150,000 for the Construction of Girls Hostel Building at Hazrat Munam Pak Talimee Public School, Maharajguni, Hazaribagh District, Jharkhand State, India. - US$ 300,000 for the Rehabilitation of Schools in Cyclone Nargis affected area of Myanmar - US$ 495,000 for the Establishment of Medical Center for Central Islamic Organization of Guyana, Georgetown, Guyana. - US$ 330,000 for the Construction of an Islamic Training Center in Rejecca, Croatia - US$ 425,000 for the Expansion of Mahardika Institute of Technology, Tawi-Tawi, Autonomous Region in Muslim Mindanano, Philippines. - US$ 360,000 for the Construction of Mama Khadija Girls Primary School at Sumaili Village, Mangochi District, Malawi.

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:
TECHNICAL ASSISTANCE OPERATIONS AND OTHER PROJECTS : - US$ 491,000 grant, as institutional support, for the Microfinance Project, Chad - US$ 350,000 grant, as institutional support, for the Microfinance Programme, Jordan. - US$ 1 million grant for Arab Development Portal Project, The Coordination Group - US$ 500,000 grant for the Improvement of Wheat Crop Production in Arab Countries, Regional - US$ 1 million grant for the National Initiative for Human Development, Morocco

ITEMS FOR INFORMATION : Operations approved by the President in respect of Technical Assistance, operations and other projects. - US$ 12 million loan for the Integrated Agricultural Development Project in Mauritania, in the framework of the Jeddah declaration which dedicates US$ 1.5 billion for facing food price rise in the least developed member countries. - US$ 239,000 technical assistance grant for Developing a Geographic Information System (GIS) in the Capital Secretariat of Sana'a, Yemen - US $ 221,000 technical assistance grant for the Arab Urban Development Institute for Poverty Reduction and Capacity Building in Three Arab Cities, Regional - US$ 162,000 technical assistance grant for Capacity Building of the International Muslim Women Union, Sudan. - US$ 200,000 technical assistance grant for a Study on the Status of the Awqaf in Al-Madinah Al-Munawwarah, Saudi Arabia.