Jeddah, 9.3.2011: The president of the Islamic Development Bank (IDB), Dr. Ahmad Mohamed Ali, announced that an IDB mission has just returned from Egypt after coordinating with the Egyptian Red Crescent for the delivery of an emergency medical aid worth US$ 200,000 in favor of the Libyans affected by the crisis.
It is worth mentioning that the IDB Board of Executive Directors has recently stressed the importance of speeding up the implementation of the IDB projects and programs aimed at alleviating unemployment, and providing employment opportunities for youth through the establishment of small and medium projects in a number of Arab countries that have recently experienced change.
Within this framework, the IDB Board decided to allocate an amount of US$ (250) million to enable those countries to support investments aimed at alleviating poverty, and creating new employment opportunities for youth.
This assistance will enhance building institutional capacity of those countries either by supporting training programs that meets labor market needs, or by supporting Micro Finance Institutions (MFIs), vocational training, and lines of financing for small and medium enterprises.