Jeddah, 19.7.2009 :The Board of Directors of the ISFD, an affiliate of the Islamic Development Bank (IDB) approved financing for new development projects for US$ 45.8 million. The details are as follows:
- A concessional loan for US$ 10.2 million for Afghanistan to participate in financing Doshi-Pol-Khumri Road Project. The term of the loan is 25 years including a grace period of 7 years. The same project was financed earlier by IDB for US$ 10 million.
- A concessional loan for US$ 5 million for the Kyrgyz Republic as participation in financing micro enterprises through local partners in rural areas. The duration of the loan is 10 years including a grace period of three years. A technical assistance grant of US$ 300,000 shall also be provided for the same project.
- Two concessional loans for the Republic of Tajikistan for a total amount of US$ 30.3 million, as follows:
- US$ 20 million to participate in the Kaliab-Kalaykhum Road Project. The loan shall be for a period of 25 years including a grace period of 7 years.
- US$ 10 million to finance micro enterprises through local partners. The loan shall be for 10 years including a grace period of 3 years. A technical assistance grant for US$ 330,00 from the IDB resources will be provided to the same project.

The 12th meeting of the Board of directors of the ISFD was held at the IDB Headquarters in Jeddah under the Chairmanship of Dr. Ahmad Mohamed Ali, It is to be noted that ISFD was established pursuant to a resolution issued by the Makkah Extraordinary Islamic Summit in 2005. The Fund seeks to mobilize resources to reach its targeted capital of US$ 10 billion to combat poverty in the OIC Member Countries.