04.05.2011, Jeddah, Wrapping up its 275th meeting on Tuesday 03.05.2011, the Board of Executive Directors of the Islamic Development Bank (IDB) approved a total of US$ 582.1 worth of financings for a wide array of new development projects in various corners of the Islamic world and Muslim communities worldwide.
Different topics featured on the agenda of the meeting including discussions on the latest arrangements for the upcoming 36th annual meeting of the IDB board of governors in Jeddah, KSA, at the level of ministers of finance, economy and planning from the 56 IDB member nations as well as approving financings for a number of new development projects including mega projects namely; the US$ 121.17 million “Balkan Velayat Water Supply Project” in Turkmenistan, the US$ 97.50 million for “Regional Roads and Development” and “Support to Quality Improvement of the Vocational Training Centers” projects in Indonesia as well as US$ 51.80 million for Implementation of National Component Projects in the Republics of Sierra Leone and Gambia.
The meeting also approved a US$ 400.00 thousand grant for purchasing and equipping of a building for sheltering of the people affected by the destructive tremor in Japan.
Approvals by the members of the IDB Board of Executive Directors further included six other grants from the IDB Waqf fund to support educational efforts in six Muslim communities in non-member countries including the United States, Brazil, Canada, the Philippines, Japan and the Netherlands as well as two capacity building and health projects in Comoros.
A US$ 42.00 million approval was dedicated to a 3-year loan financing of IDB sustainable villages program in six IDB least developed member countries while an amount of US$ 18.80 million plus another US$ 10.00 million of the approved financings went to contributing to capital increases in Bahrain’s Islamic Bank as well as the United Bank of Albania respectively.
The main details of the approvals of the 275th BED meeting are as follows:
1- US$ 121.17 million for The Balkan Velayat Water Supply Project, Turkmenistan

2- US$ 97.50 million for “the Regional Roads Development” as well as “the Support to Quality Improvement of the Vocational Training Centers” projects , Indonesia

3- US$ 64.80 million for Flood Protection Modernization and Expansion of Irrigated Areas, Nakhchivan, Azerbaijan Republic

4- US$ 42.00 million for contribution to sustainable rural development projects by ISFD in six IDB least developed member countries

5- US$ 39.2 million for Markala Sugar Project, Mali

6- US$ 51.8 million for Implementation of the National Component of the ECOWAN Program in the Republics of Gambia and Sierra Leone (US$ 27.30 million for Gambia and US$ 24.50 Million for Sierra Leone)

7- US$ 29.60 million for additional financing for the Kenitra Power Plant Project, Kingdom of Morocco, (Operations Approved by the President), (totaling the Bank’s contribution to the project to US$ 248.7)

8- US$ 28.3 million for Municipal Solid Waste Management Project, Senegal

9- US$ 23.00 million for Improvement of Electricity Supply in Bishkek and Osh Cities – Kyrgyz Republic

10- US$ 18.8 million for contributing to capital increase of Islamic Bank of Bahrain

11- US$ 14.11 million for National education Support Project – Phase II (skills development), Uganda

12- US$ 13.30 million for Fisheries Development Project, Yemen

13- US$ 11.92 million for National Rural Water Supply and Sanitation Project in the provinces of Delgado and Gaza, Mozambique

14- US$ 10.00 million for contributing to capital increase of United Bank of Albania supporting its restructuring process

15- US$ 9.56 million in additional financing for Launching of the Connecting road between Franceville, Leconi and Kabala, The Republic of Gabon (Operations Approved by the President) (totaling the Bank’s contribution to the project to US$ 51.00 million)

16- US$ 2.10 million in additional financing for the Water Supply Project in the Tajik capital city of Dushanbe, Tajikistan (Operations Approved by the President) (totaling the Bank’s contribution to the project to US$ 11.3 million)

17- US$ 448.00 thousand for financing technical assistance to Cotton Integrated Pest Management Education and Implementation Program in Turkey and Syria

18- US$ 1.38 million for financing technical assistance for Capacity Building in Budget Resilience and Absorptive Capacity of Comoros as well as the launching of a Cardiac Care Unit and Laboratory in Hombo Hospital therein

19- US$ 900.00 thousand as grant for Construction of Gifu Islamic International School, Gifu (US$ 500.00), Japan, as well as purchasing and equipping a building for sheltering the people affected by the destructive tremor (US$ 400.00) in the country (Under IDB Waqf Fund)

20- US$ 470.00 thousand for Purchasing a building for Islamic Culture Center in Amsterdam, The Netherlands (Under IDB Waqf Fund)

21- US$ 450.00 thousand for Expansion of The Brazilian Islamic School, Sao Paolo, Brazil (Under IDB Waqf Fund)

22- US$ 450.00 thousand for Expansion of Dar Al Iman School Building, Montreal, Quebec, Canada (Under IDB Waqf Fund)

23- US$ 300.00 thousand for financing technical assistance to contribute to supporting the Electronic Education Program for Audio-Visually Impaired Students, The Arab Republic of Egypt (Operations Approved by the President)

24- US$ 288.00 thousand for contribution to completing the construction of Lexington Academy, Lexington, USA (Under IDB Waqf Fund)

25- US$ 186.00 thousand for Expansion of Nour Elim Academy School Building at Inug-ug, Pikit, Cotabato, The Philippines (Under IDB Waqf Fund)

INDEX
OPERATIONS APPROVED BY THE 275TH MEETING OF THE BOARD OF
EXECUTIVE DIRECTORS OF THE ISLAMIC DEVELOPMENT BANK GROUP

Country Title IDB Financing
PROJECTS
Turkmenistan The Balkan Velayat Water Supply Project. US$ 121.17m
Indonesia Regional Roads Development Project. US$ 65m
Indonesia Support to Quality Improvement of the Vocational Training Centers Project. US$ 32.5m
Azerbaijan Flood Protection, Modernization and Expansion of the Irrigated Areas in Nakhchivan. US$ 64.83m

Islamic Solidarity Fund for Development (ISFD) Contribution to sustainable rural development projects in six IDB least developed member countries
US$ 42.00m

Mali Markala Sugar Project. US$ 39.232m
The Gambia Implementation of the National Component of the ECOWAN Program. US 27.324m
Sierra Leone Implementation of the National Component of the ECOWAN Program. US$ 24.53m
Senegal Municipal Solid Waste Management Project. US$ 20.35m
Kyrgyz Republic Improvement of Electricity Supply in Bishkek and Osh Cities. US 23.08m
Uganda Uganda National Education Support Project – Phase-II (Skills Development). US$ 14.11m
Yemen Fisheries Development Project. US$ 13.3m
Mozambique National Rural Water Supply and Sanitation Project in the Provinces of Cabo Delgado and Gaza. US$ 11.92m
TECHNICAL ASSISTANCE:
Turkey & Syria T.A. (Grant) Financing for Cotton Integrated Pest Management Education and Implementation Program. US$ 448,000
Comoros T.A. (Grant) in favor of the Health Sector (Phase-3). US$ 438,000
Comoros T.A. (Grant) for Capacity Building in Budget Resilience and Absorptive Capacity. US$ 600,000
OPERATIONS UNDER IDB WAQF FUND:
Brazil Expansion of the Brazilian Islamic School, Sao Paolo. US$ 450,000
Canada Expansion of Dar Al Iman School Building, Montreal, Quebec. US$ 450,000
Japan Construction of Gifu Islamic International School in Gifu US$ 500,000
Japan Emergency Grant Assistance to the victims of Earthquake and Tsunami in Japan. US$ 400,000
The Netherlands Purchasing a Building for the Islamic Culture Center in Amsterdam. US$ 470,000
Philippines Expansion of Noorul Elim Academy School Building at Inug-ug, Pikit, Cotabato. US$ 186,000
USA Completion of Lexington Universal Academy, Lexington, Kentucky. US$ 288,000
PARTICIPATION IN EQUITY OF ISLAMIC BANKS
Albania Capital Increase of United Bank of Albania. US$ 10.00m
Bahrain Islamic Bank of Bahrain US$ 18.8m
OPERATIONS APPROVED BY THE PRESIDENT
Egypt T.A. (Grant) for “Supporting E-Learning for Hearing and Visually Impaired Students in Egypt” US$ 300,000
Gabon Supplementary Istisna’a Financing for the Construction of the Franceville-Leconi-Kabala Road Project US$ 9.565m
Morocco Supplementary Financing for the Kenitra Power Plant Project US$ 29.60m
Tajikistan Additional Financing under the Loan Operation for the Dushanbe Water Supply Project US$ 2.1m