ID :
9325
Wed, 06/04/2008 - 11:25
Auther :
Shortlink :
http://m.oananews.org//node/9325
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IDB Allocates $1.5 Billion to Support Yemen and 25 States on Food Crisis
Jeddah, June 04 (Saba) - The Islamic Development Bank (IDB) decided on Tuesday to allocate $1.5 billion to support Yemen and 25 Islamic states under a new initiative to support affected countries on the global food crisis.
The IDB's program, which lasts five years, will focus on supporting the least developed member States of the bank as well as other affected countries.
The program was declared by Sheikh Ahmed bin Mohammed Al Khalifa, Bahraini Finance Minister and Chairman of the IDB's Board of Governors during the 33rd meeting of the IDB Board of Governors at the level of Finance, Economic and Planning Ministers of the 56member states, being held in the Saudi city of Jeddah.
"There is a financial package of $1.5 billion will seek to achieve the member states' food security in present and future", added Sheikh Ahmed.
The countries that will take advantage of the IDB's program are Yemen, Afghanistan, Bangladesh, Benin, Burkina Faso, Cameroon, Chad, Comoros, Djibouti, Gambia, Guinea, Guinea Bissau, Gergesia, Maldives, Mali, Mauritania, Niger, Mozambique , Palestine, Senegal,Sierra Leone, Somalia, Sudan, Tajikistan, Togo and Uganda.
The $1.5 billion program will be used in the form of grants and loans, along with the contribution of the Islamic Foundation of International Trade by $250 million and Islamic Corporation for theDevelopment of the Private Sector by $200 million.
Yemen's delegation to the meeting was headed by Deputy Prime Minister and Minister of Planning and International CooperationAbdul-karim al-Arhabi. - end.
The IDB's program, which lasts five years, will focus on supporting the least developed member States of the bank as well as other affected countries.
The program was declared by Sheikh Ahmed bin Mohammed Al Khalifa, Bahraini Finance Minister and Chairman of the IDB's Board of Governors during the 33rd meeting of the IDB Board of Governors at the level of Finance, Economic and Planning Ministers of the 56member states, being held in the Saudi city of Jeddah.
"There is a financial package of $1.5 billion will seek to achieve the member states' food security in present and future", added Sheikh Ahmed.
The countries that will take advantage of the IDB's program are Yemen, Afghanistan, Bangladesh, Benin, Burkina Faso, Cameroon, Chad, Comoros, Djibouti, Gambia, Guinea, Guinea Bissau, Gergesia, Maldives, Mali, Mauritania, Niger, Mozambique , Palestine, Senegal,Sierra Leone, Somalia, Sudan, Tajikistan, Togo and Uganda.
The $1.5 billion program will be used in the form of grants and loans, along with the contribution of the Islamic Foundation of International Trade by $250 million and Islamic Corporation for theDevelopment of the Private Sector by $200 million.
Yemen's delegation to the meeting was headed by Deputy Prime Minister and Minister of Planning and International CooperationAbdul-karim al-Arhabi. - end.
