Jeddah, June 2, 2008 -- The Board of Executive Directors of the Islamic Development (IDB) approved on Sunday 1/June US$ 533.4 million for development projects including loans for (9 ) development projects in ( 9 ) member countries, in addition to the allocation of US$ 150 million for establishing the Asian Development Bank and IDB Infrastructure Fund.

The Board which held its 252nd Session at Hilton Hotel, Jeddah, under the chairmanship of H.E. Dr. Ahmad Mohamed Ali, IDB President, approved new grants from the Waqf Fund in favor of 8 Muslim communities in Slovenia, Kenya, India, Union of the Comoros, Tanzania, UK, Macedonia and Thailand.

The Board also reviewed the Technical Assistance items and other projects approved by the President of the Bank between the previous and last sessions of the Board in favor of Tatarstan, Somalia, Mauritania, Sudan, Niger, Turkey, and Djibouti in addition to two projects for exercising of preemptive rights by IDB in the equity capital increase of Kuwait /Turkey Participation Bank (KTPB) and the International Company for Lease and Investment, Kuwait.

The Board also discussed, during the session, the international food crisis and its impact on Member Countries, as well as the progress achieved in IDB Group Reform Program within the framework of IDB Vision 1440 H. (2020G.).

Details of The Board approvals are as follows:

DEVELOPMENT PROJECTS
 US$ 21.59 million Istisna'a/Loan financing for the Development and Upgrading of State University of Jakarta (UNJ) –Indonesia.
 US$11.2 million loan financing for the Reconstruction of Taraz-Talas-Suusamyr Road (Phase-II) – Loan - Kyrgyz.
 US$13.351 million loan financing for the Water Supply & Sanitation Project in Orikum – Loan - Albania.
 US$11.2 million loan financing for the Gezira University Upgrading and Development Project – Loan - Sudan.
 US$ 87 million leasing financing for the North Central Gas Treatment Plant – Leasing - Syria.
 US$ 5.2 million loan financing for the Upgrading of Zaghla – Shebba – Hebbariye Road Project –Lebanon.
 US$ 473,000 for Identification of Biomarkers for Early Detection of Gastric Cancer – T.A. Grant – Iran.
 US$10 million loan financing for combating Bird Flu, Egypt.
 US$150 million for the Ras Lafan Independent Energy Project, Qatar

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND
 US$ 380,000 for the Establishment of Ibn Rushd Cultural & Educational Center, Ljubljana, Slovenia.
 US$ 260,000 for the Construction of a Hostel Building for WAMY Boys High School, Nairobi, Kenya.
 US$ 175,000 for the Construction of Warsia Girls College, Gomti Town, Lucknow District, Uttar Pradesh State, India.
 US$ 200,000 for the Provision of Lab Equipment and Furniture for Four Secondary Schools in Comoros, Union of the Comoros.
 US$ 360,000 for the Establishment of a Girls Secondary School in Morogoro Town, Morogoro, Tanzania.
 US$ 390,000 for Slough Islamic School, Slough, Greater London, United Kingdom.
 US$ 600,000 for the Construction of Educational Hospital, Macedonia.
 US$ 225,000 for 3 Year Capacity Building program for Islamic schools, Thailand.

APPROVALS BY THE PRESIDENT
The following approval was made by the President of the Bank between the previous and present sessions of the Board:

Technical Assistance
 US$ 313,000 T.A. for covering the costs of the International Investment Conference, Tatarstan.
 US$ 328,000 grant financing for the Development of Live Stock Project, Somali.
 US$ 3.1 million loan financing for participation in a governmental program for roll back Malaria, Mauritania.
 US$ 4.8 million loan financing for participation in a governmental program for roll back Malaria, Niger.
 US$ 13.8 million for Exercise of Preemptive Right by IDB in the Equity Capital Increase of Kuwait / Turkey Participation Bank (KTPB).
 US$ US$ 37.1 million for Exercise of Preemptive Right by IDB in the Equity Capital of the International Company for Lease and Investment, Kuwait.
 US$ 293,000 T.A. for enhancing the Turkish National Program for Food Security, Turkey.
 US$ 10 million loan financing for covering the costs of Djibouti- Lioada, Road Project.
 US$ 8.8 million T.A. & loan financing for Poverty Alleviation Project, Djibouti.