Jakarta, Indonesia, 16 May 2016 – Dr. Ahmad Mohamed Ali, President of the Islamic Development Bank (IsDB), on Sunday presided over the meeting of the 312th session of IsDB’s Board of Executive Directors at Jakarta Convention Center.

The meeting was held prior to the 41st Annual Meeting of the Board of Governors of IsDB, which is taking place from 15-19 May at the invitation of the government of Indonesia.

Dr. Ali expressed thanks and appreciation to the President, government and people of Indonesia for hosting the 41st Annual Meeting of the Board of Governors and the events associated with it. He also commended the close cooperation relation between IsDB and Indonesia, which is a founding member of the Bank.

The funds approved during the meeting will help finance several important projects totalling US $176.6 million:
• US $101.5 million for a high-speed rail project connecting Tangier with Casablanca in Morocco
• US $45 million for a project supporting vocational education and training in Uganda
• US $29.5 million for an agricultural development project in Soum Province, Burkina Faso

The Board of Executive Directors also approved three non-reimbursable grants from the IsDB Awqaf Properties Investment Fund (APIF) to Muslim communities in non-Islamic countries: Antigua and Barbuda, Denmark and Tanzania.