IDB approves $2.5bn for operational plan

JEDDAH, December 25, SPA -- The board of executive directors of the
Islamic Development Bank (IDB) has approved $2.47 billion for its
operational plan for the new-year to finance various development and
technical assistance projects, and food security grants in member
countries.


The approval was made during the board’s 256th meeting at the IDB
headquarters here under the chairmanship of IDB President Dr. Ahmad
Mohamed Ali, it was reported yesterday.


The plan includes $2.09 billion toward regular funding and $381
million financing to be allocated toward programs and projects in
member countries.


Additionally, $357 million in loans will be allocated under the
Islamic Solidarity Fund for Development in order to fight poverty,
according to a report published today by Arab News.

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