The Board of Executive Directors of the Islamic Development Bank, which concluded its 273th meeting on Monday 9 January 2011, at the Bank’s headquarters in Jeddah under the chairmanship of H.E. Dr. Ahmad Mohamed Ali, IDB President, approved US$(249.4 ) million for financing new development projects in favor of Indonesia (two educational projects), Egypt (steam power plant), Iran (wastewater project), and Senegal (irrigation project), in addition to the financing of two hospitals project, in Egypt and Jordan, for the Saudi Al Batterjee House Medical Co Ltd.
The Board also approved the building of a new secondary school in Somalia, and the provision of assistance grants from the Waqf Fund, to enhance education and vocational training, in favor of (5) Muslim communities in non-member countries i.e., Canada, Democratic Republic of Congo, France, Nepal and Rwanda.
The Board was informed on the Technical Assistance Grants approved by the President, IDB in exercise of the powers conferred upon him by the Board, which include (3) TA Grants for development projects in Kuwait, Yemen and Uganda,.
Details of the Board approvals and items for information reviewed during the session are as follows:

DEVELOPMENT PROJECTS
 US$ 64.5 million for two educational projects in Indonesia, including US$ 29.5 million Istisna’a+ Loan financing for the Reconstruction and Upgrading of the State University of Padang – Indonesia, and US$ 35 million Istisna’a and Installment Sale financing for the Development and Quality Improvement of the State Institute for Islamic Studies (IAIN) - Sunan Ampel Surabaya – Indonesia.
 US$ 60 million Leasing financing for the Al-Suez Steam Power Plant Project – Egypt
 US$ 84.3 million for the Rural Areas Wastewater Project, North-West & South-East Regions – Iran.
 US$ 17.9 million Istisna’a financing for the Small Scale Irrigation Support Project – Senegal.
 US$ 20 million for the establishment of two hospitals in Dubai and Egypt in favor of the Saudi Al Batterjee House Medical Co Ltd.

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND
 US$ 300,000 for the Construction of Geb Secondary Boarding School in Geb Village, Awdal Region, Somalia.
 US$ 350,000 for the Expansion of Iqra Islamic School Building for Islamic Heritage Society Surrey, British Colombia, Canada.
 US$ 225,000 for the Construction of a Vocational Training Center, Kinshasa, Democratic Republic of Congo.
 US$ 495,000 for the Expansion of Ibn Khaldoun School, Marseille, France.
 US$ 200,000 for the Reconstruction of Hilal Public School at Ghuyskee Village, Sunsari District, Koshi Zone, Nepal.
 US$ 350,000 for the Construction of new Educational facilities in Bugarama Educational Complex, Bugarama, Rusizi District, Rwanda.

APPROVALS BY THE PRESIDENT, IDB
The following are approvals of Technical Assistance made by the President of the Bank between the previous and present sessions of the Board:
 US$ 255,200 T.A. (Grant) for the Design of a National Groundwater Monitoring Network , Kuwait.
 US$ 275,000 T.A. (Grant) Financing for the Feasibility Study of the Agriculture Development Program in Al-Bayda Governorate, Yemen.
 US$ 253,000 T.A. (Grant) for the Support of Transfer of Low-cost Charcoal Manufacturing Technology to Farmers and Entrepreneurs , Uganda.