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IDB Approves More Than US$ 285 Million of New Financing  Join our daily free Newsletter

MENAFN - Qatar News Agency - 26/12/2013

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(MENAFN - Qatar News Agency) The 294th meeting of the Board of Executive Directors of the Islamic Development Bank (IDB) which had convened since 22 December, approved a total of US 285.4 million towards financing new development projects in member countries and Muslim communities in non-member countries.

Among the recent approvals, an amount of US 2 million is allocated for Mali for preparation of a feasibility study and detailed engineering design for a portion of the Trans - Sahara road linking Kidal to the Algerian border

IDB has been funding several parts of this economically strategic road which has a main axis linking Algiers to Lagos in addition to several branches (over a total length of 9000 km), and is eventually crossing in to Algeria, Tunisia, Chad, Mali, Niger and Nigeria, all of them IDB member countries
A total sum of US 750,000 is also to be funneled into four educational projects in Muslim communities in Bosnia Herzegovina (US 200,000), Guyana (US 150,000), Thailand (US 200,000) and US (US 200,000) as special assistance under IDB's Waqf Fund, while a sum of US 400,000 will be provided (under operations authorized by the IDB President) as technical assistance grant to Chad, Mali, Mozambique, Niger, Nigeria and Yemen to help them prepare Malaria prevention and control programs

The Board also discussed the special arrangements for celebrating the 40th anniversary of the IDB on the occasion of the annual meeting of the IDB's Board of Governors to be held on 25-26 June 2014, in Jeddah, Saudi Arabia


 






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