21.02.2012, Jeddah, KSA – The Islamic Development Bank (IDB) has extended a US$ 229 million funding for financing the rolling stock for the high speed 304 kilometer railway line between Ankara and Konya in the Republic of Turkey.
The financing is part of the US$ 668 million the Board of Executive Directors of the IDB approved at its 281st session for various development projects in member countries and for Muslim communities in non-member countries. The meeting that started on Sunday, 19 February, was chaired by IDB Group President, Dr. Ahmad Mohamed Ali.
The new approvals also include financing for other projects in; Iran (US$ 228 million for Western Tehran sanitation project), Nigeria (US$ 86 million for promotion of bilingual education), Tunisia (US$ 34.6 for agricultural development project in Kef and Kasserine Governorates), Sierra Leone (US$ 15.4 million for construction of Pendembu-Kailahum Road project), Niger (US$ 15 million for Arlita-Assamaka road project on the border with Algeria), Mali (US$ 12.7 million for support to the social
housing program in Bamako), Mauritania (US$ 10 million for solar rural electrification project in Aftout Elchargui Zone), Senegal (US$ 8.4 million for construction and equipping of Dalal Jamm hospital), Bangladesh (US$ 8.6 million for agricultural support for small holders in the southwestern region), Uganda (US$ 8 million for community agricultural infrastructure improvement program) as well as US$ 11.195 million in additional financing for the Roseires Dam in Sudan.
Grants of up to US$ 0.953 million for educational and vocational training projects for Muslim communities in Swaziland, US, UK and Russia were also approved by the Board.
The Board reviewed a number of progress reports on; the Arab youth employment support program, the implementation of Member Country Partnership Strategy (MCPS) in a number of member countries, the Bank’s development programs and implementation of the Bank’s Vision 2020. Other items reviewed by the Board included reports on IDB’s participation in the Development Forum, Busan, South Korea, the new programs on development partnerships progress report on implementation of the Jeddah Declaration
issued during 33rd meeting of the Board of Governors in Jeddah, June, 2008. Under the Jeddah Declaration, the IDB had allocated US$ 1.5 billion to assist its Member Countries to meet the food crisis.