9/8/1426 13/9/2005

Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz received at his office at Al Salam palace in Jeddah, on Sunday 11/9/2005, H.E Dr. Ahmed Mohammed Ali, president of Islamic Development Bank, Vice Presidents and the Board of Executive Directors of the Bank on the occasion of the 30th anniversary of the establishment of IDB who expressed thanks to the Kingdom of Saudi Arabia for the generous support to the Bank since its conception up to date.
Custodian of The Tow Holy Mosques King Abdullah bin Abdul Aziz commended the role of the bank in serving Islamic Countries stressing that the service of Islam bestows esteem and honour upon those who are committed by.

H.E Dr. Ahmed Mohammed Ali the President of IDB & President of BED expressed on behalf of IDB President, Vice Presidents and BED, in a cable sent /Monday/ their thanks to The Custodian of The Two Holy Mosques, for the audience and his kind words during the meeting, wishing him and the Kingdom of Saudi Arabia the best in serving Islam and Muslims, praying to almighty Allah to protect this holy land, its security and prosperity under the leadership of The Custodian of the Two Holy Mosques.
Notably, The Board of Executive Directors of The Islamic Development Bank, which concluded its 233d session at the Bank's Headquarters in Jeddah, Saudi Arabia , Monday , after two days of deliberations, approved more than US$ 326 million towards project financing and trade operations. H.E. Dr. Ahmad Mohamed Ali, President, IDB, who chaired the Session, stated that the total amount includes US$ 188.6 million for project financing, and about US$ 0.738 Million dollars for assistance to Muslim Communities in non-member countries for educational projects. The approved amount also includes more than US$ 136.81 million for trade financing operations and technical assistance.
. A detailed report was presented by IDB president to the Board on the proposed financing for the assistance to drought and locusts stricken Sahel Countries (Niger, Mali, Mauritania and Burkina Faso) to help mitigate the food crisis.

DEVELOPMENT PROJECTS

US$ 9.5 million loan financing for Rural Electrification Project aiming at improving the electricity coverage under the on-going program in 33 localities, Cameroon.

Two loans of US$ 14.9 million for the Franco – Arabic Basic Education Development Project, Niger.

US$ 10.5 million loan financing for Diversified Food Production Project aiming at alleviating poverty through the improvement of crop and animal products, Sierra Leone

US$ 10.5 million loan financing for Reconstruction of Secondary Schools Project- Phase 11, Tajikistan.

US$ 43.21 million Istisna’a financing for Tripoli Infrastructure Project, Lebanon.

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND

US$ 160,000 for participation in the construction of an Industrial Training Institute for the Horizon Education Society, Madhya Pradesh State, India.

US$ 285,000 for participation in the Construction of Green Valley Islamic College, Sydney, New South Wales, Australia.

US$ 293,000 for participation in the Extension of the Islamic Secondary School in Komotini, Greece.
APPROVALS BY THE PRESIDENT
The following are approvals of trade operations and project financing made by the President of the Bank between the previous and present sessions of the Board.

Import Trade Financing Operations (ITFO):

ITFO for Indonesia for US$ 25 million
ITFO under Tsunami Package for the republic of Indonesia for an amount of US$ 25 million to purchase the Liquefied Natural Gas.

ITFO for Iran for US$ 19.5 million
ITFO for the Islamic Republic of Iran in favor of Iran Beshahar Industrial company for an amount of US$ 19.5 million to purchase raw material for Vegetable Oil.

ITFO for Kuwait for US$ 20 million
ITFO for Kuwait in favor of Independent Petroleum Group (IPG) for an amount of US$ 20 million to purchase Petroleum and Petroleum Products.

ITFO for Maldives for US$ 11.7 million
ITFO under Tsunami Package for an amount of US$ 11.7 million to purchase Miscellaneous Goods.
Export Financing Scheme (EFS)

EFS for Kuwait for US$ 60 million? 4 Export Financing Operations of Refined Petroleum Products importation from Kuwait to Bangladesh for US$ 60 million.

Techinical Assistance

US$ 284,000 as Technical Assistance grant for Construction of 500 KV South-North Transmission Line, Tajikistan.

US$ 208,000 as Technical Assistance grant for the Capacity Building for the State Planning Commission, Syria.

US$ 118,000 as Technical Assistance grant for Capacity Building of the Tunisian Agency for Technical Cooperation (TATC), Tunisia.