The 284th meeting of the Board of Executive Directors of the Islamic Development Bank, which convened at IDB headquarters on July 16, under the chairmanship of Dr. Ahmad Mohamed Ali, President, IDB Group, approved more than US$ 1,158 million towards development projects financing for IDB member countries and Muslim communities in non-member countries. This is the largest amount of approvals by a single IDB Board meeting since the Bank’s inception in 1975.
The approvals covered a large number of strategically important development projects comprising US$ 683 million for power generation and power transmission projects in five IDB Member countries namely Morocco, Tunisia, Iran, Uzbekistan and Tajikistan; US$ 274.8 million for food security and rural development activities in African countries (Cameroon, Chad, Uganda, Benin, Burkina Faso, Mali, Niger, Mauritania and Togo); US$ 146.2 million for educational projects in Indonesia, Yemen and Bangladesh; US$ 45 million to Indonesia Exim Bank for the financing of export-oriented small and medium size industries; US$ 7.6 million as additional financing for Durres fishing in Albania (bringing IDB contribution for that project to $ 16.8 million); US$ 400,000 Technical Assistance grant to Djibouti for the “Mother to Child AIDS Transmission Prevention Project “ in the health sector.