The IDB approves US$ 504 million for new development projects

Report
from Islamic Development Bank
Published on 20 Dec 2009 View Original
Jeddah,14.12.2009: The Board of Executive Directors of the Islamic Development Bank (IDB), which concluded its 263rd session at IDB Headquarters in Jeddah, approved new finances totaling US$ (504) million for development projects and technical assistance in favor of Benin, Kyrgyz, Sudan, Tajikistan, Tunisia, Lebanon, Nigeria, Uganda, Bangladesh, Iran and Uzbekistan. A Technical Assistance Grant was also approved for the Regional Program for Infrastructure Development in Africa (PIDA).

The Board approvals included Grants and Special Assistance for a number of Muslim communities in nonmember countries i.e., India, Ethiopia and the US, in addition to providing all necessary assistance to Niger and Togo under the HIPC Debt Initiative.

The Board took note of a T.A. Grant approved by the IDB President for a capacity building project in Jordan.

Details of the Board approvals are as follows:

DEVELOPMENT PROJECTS

- US$ 20 million Loan for Health System Development Support - Benin.

- US$ 17 million Loan financing for the Reconstruction of Bishkek-Torugart Road Project - Kyrgyz Republic.

- US$ 11.4 million Loan + Technical Assistance Grant for Microfinance Support Program - Sudan.

- US$ 4 million Loan (Supplementary Financing) for the Regional Power Transmission Interconnection Project - Tajikistan.

- US$ 12.3 million Istisna'a for the Interconnection of Elhouareb and Sidi Saad Dams for the Irrigation Development Project in Kairouan - Tunisia.

- US$ 24 million Istisna.a (Supplementary Financing) for Establishing and Equipping Faculties of Engineering and Architecture, Lebanese University - Tripoli , Lebanon.

- US$ 43.1 million Installment Sale for the Construction and Equipping of a new 300-bed Specialized Hospital Project in Kaduna State - Nigeria.

- US$ 10 million Line of Financing (Installment Sale / Istisna'a / Leasing) for Uganda Development Bank Limited - Uganda.

- US$ 129.2 million Istisna'a for the Single Point Mooring (SPM) Project - Bangladesh.

- US$ 194.5 million Istisna'a financing for the Qom and Kashan Sewage Project - Iran.

- US$ 35.4 million Istisna'a financing for the Tashkent Sewerage Project - Uzbekistan.

- US$ 1.7 million Grant (Technical Assistance) for the Regional- Program for Infrastructure Development in Africa (PIDA)

GRANTS AND SPECIAL ASSISTANCE PROJECTS FROM WAQF FUND

- US$ 200,000 (from the proceeds of IDB Educational Waqf dedicated for the Muslim community in India) for the Construction & Equipping of a Vocational training Center, Gaya, Bihar State, India.

- US$ 330,000 for the Expansion of Waliso Children Village, Waliso, Ethiopia.

- US$ 390,000 for the Construction of Islamic School & Community Center for Islamic American Society of Connecticut, Waterbury, Connecticut, USA.

OPERATIONS APPROVED BY THE PRESIDENT

The following operation was approved by the President, IDB between the last and current sessions of the Board in exercise of the powers conferred upon him by the Board:

- US$ 300,000 T.A (Grant) for the Capacity Building of the local communities in Aljun and Al-Balqa Governorates - Jordan.