IDB approves $196.4 million for development projects

February 2, 2010

The Board of Executive Directors of the Jeddah-based Islamic Development Bank (IDB), which held its 265th session in Rabat, Morocco yesterday, approved $196.4 million for new development projects in members states and to assist Muslim communities in non-member states. 

Development Projects:
$9.4 million Loan financing for the New Nouakchott University Campus Project (Mauritania). 
$13.7 Million Loan + T.A (Grant) financing for Uganda’s National Education Support Project (Uganda).
$160.2 million Istisna’a financing for the Construction of the Khanewal-Multan Motorway (M4) Project (Pakistan).
$9.5 million Istisna’a financing for the St-Louis Rural Electrification Concession Project (Senegal).

Grants and Special Assistance Projects from WAQF Fund:
$300,000 for the Construction of a Secondary School in Borama Town, Somalia.
$330,000 for the Construction and Equipping of Anhui Vocational Training Center, Hefei - Anhui Province, P. R. China.
$490,000 for the Construction and Furnishing of Schools and Health Centers in Bosnia.
$400,000 for the Purchasing of Safa & Marwa School Building in favor of Salaheddin Islamic Centre, Mississauga, Ontario, Canada.
$500,000 for the Construction of Phoenix Metro Islamic School for the Islamic Community Centre of Tempe, Tempe, Arizona, USA.
$360,000 for the Renovation of K.D. Grammar School for Boys, Manchester, United Kingdom.
$190,000 for the Construction of a Secondary School for South Eastern India Minorities, Manshidanga Village, Howrah District, West Bengal State, India.

Technical Assistance:
$150,000 Technical Assistance Grant for the Rural Areas’ Microfinance Project – extended to the Fund for Financial Support of Agriculture (Kazakhstan).
$480,000 Technical Assistance Grant for the National Mass Polio Campaign (Afghanistan).