IDB approves more than US $734 million in financing for new projects

The Board of Executive Directors of the Islamic Development Bank (IDB) has approved US $734.7 million in financing for development projects in member countries and Muslim communities in non -member countries. The projects were
approved during IDB’s 310th Board meeting which wrapped up work on Tuesday 16 February, 2016, chaired by IDB President Dr. Ahmad Mohamed Ali.

The approvals include:

• US $319.7 million for contribution to upgrading a national slum in Indonesia
• US $220 million for contribution to the 400 megawatt Ashuganj (East)
• power plant efficiency improvement project in Bangladesh
• US $103 million for contribution to the Sarney Dam and Water Supply project in Iran
• US $45 million for contribution to the Kabala water supply project Phase II in Mali
• US $44.7 million for contribution to the grass field participatory integrated rural development project in Cameroon

The Board reviewed the technical assistance grants approved by IDB Group President Dr. Ali in exercise of the powers conferred upon him by the Board.
Dr. Ali also approved two technical assistance grants for development projects in Pakistan and Sierra Leon, and a third that
will build capacity for Tunisia’s Ministry of Development, Investment and International Cooperation.

The Board also approved four grants totaling US $760,000 under the IDB Waqf fund. The grants will contribute to education and health projects for Muslim communities in “non-member countries” in New Zealand, Burundi,  Denmark and Ethiopia, assisting them