IDB approves US$ 616 Million for New Projects

Jeddah, July 19, SPA -- The Board of Executive Directors of the
Islamic Development Bank (IDB), has approved US$ 616.2 million for
new projects and technical assistance in member countries and Muslim
communities in non member countries.

The Board which concluded a session under the chairmanship of Dr.
Ahmad Mohamed Ali IDB President expressed profound thanks, deep
appreciation and sincere gratitude to the Custodian of the Two Holy
Mosques, King Abdullah bin Abdulaziz for his kind patronage and
inauguration of the 33rd Annual Meeting of the IDB Board of
Governors, his generous care bestowed on the meeting and his
reception for the IDB Governors.

The meeting approved during the session US$ 3 million for IDB Group
Reform, delegating the Management to undertake necessary measures for
the implementation of the Project, according to a latest press
release of the IDB.

A Progress report on the implementation of IDB Vision (2020) was
also reviewed at the Board meeting.

The development projects approved by the Board involved financing
development projects in Tunisia, Uzbekistan, and Malaysia, in
addition to two projects from the Islamic Solidarity Fund in favor of
Bangladesh and Yemen.

It also approved Grants from the Waqf Fund in favor of six Muslim
Communities in Mauritius, Bosnia Herzegovina, India, USA, Congo and
Sweden.

The Board was informed of Technical Assistance Projects approved by
IDB President during the last and current sessions of the Board in
favor of Saudi Arabia, Qatar and Azerbaijan, in addition to the
International Islamic News Agency (IINA).

Details of the Board approvals and items for information reviewed by
the Board are as follows:


DEVELOPMENT PROJECTS:

-- $195.6 million Installment Sale for the Extension of Feriana and
Thyna Power Plant – Installment Sale – Tunisia.

-- $42.00 million Installment Sale for the 500 KV Guzar-Surkhan
Transmission Line & Sub-Stations Project – Uzbekistan.

-- $92 million for the Kuala Lumpur to Kuala Selangur Toll
Expressway Project – Malaysia.

-- $19.9 million loan financing for The Rural Access
Program-Republic of Yemen.

-- $11.2 million loan financing for The Greater Rajshahi Division
Integrated Rural Development Project – Bangladesh.

IDB approves US$ 616 Million for New Projects 4 Jeddah

Grants and Special Assistance Projects from Waqf Fund:

-- $ 230,000 for the Completion of the Islamic Cultural College –
Form VI, Port-Louis, Mauritius.

-- $ 310,000 for the Expansion of Al-Salaam School in Orebro,
Sweden.

-- $ 320,000 for the Establishment of a Health Center in Goma,
Democratic Republic of Congo.

-- $ 340,000 for the Expansion of Annoor Islamic School in Wichita,
Kansas, United States of America.

-- $ 350,000 for the Construction and Furnishing of Schools and
Cultural Centers in Srebrenica and Surrounding Areas for the Bosnian
Refugees Returning to their Homes, Bosnia & Herzegovina.

-- $ 175,000 for the Construction of Al-Barkaat Public School
(Girl's Section), Mangoorgarhi Town, Aligarh District, Uttar Pradesh
State, India.

Approvals by IDB President:

The following are approvals made by the President of the Bank
between the previous and present sessions of the Board:

-- $ 100 million for Ma'aden Phosphoric Fertilizer Complex – Leasing
– Kingdom of Saudi Arabia.

-- $ 150, 000lion for Ras Laffan C IWPP Project – Leasing – Qatar.

-- $ 200,000 T.A. (Grant) for conducting a Study for the
Reorganization and Restructuring of the International Islamic News
Agency (IINA).

-- $ 250, 000 T.A. (Grant) for the Family Village Portal Project of
Prince Salman Centre for Disability Research (PSCDR) - Kingdom of
Saudi Arabia.

-- $ 322, 000 T.A. (Grant) for Capacity Building of the Cabinet of
Ministers, Azerbaijan.