ISFD approves $ 45 Million new projects 2 Jeddah

- Two concessional loans for the Republic of Tajikistan for a total
amount of US$ 30.3 million, as follows:
- US$ 20 million to participate in the Kaliab-Kalaykhum Road Project.
The loan shall be for a period of 25 years including a grace period
of 7 years.
- US$ 10 million to finance micro enterprises through local partners.
The loan shall be for 10 years including a grace period of 3 years. A
technical assistance grant for US$ 330,00 from the IDB resources will
be provided to the same project.

The 12th meeting of the Board of directors of the ISFD was held at
the IDB Headquarters in Jeddah under the Chairmanship of Dr. Ahmad
Mohamed Ali, It is to be noted that ISFD was established pursuant to
a resolution issued by the Makkah Extraordinary Islamic Summit in
2005. The Fund seeks to mobilize resources to reach its targeted
capital of US$ 10 billion to combat poverty in the OIC Member
Countries, according to a recent press release of the IDB issued in
Jeddah.