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Thursday 12 Nov 2015 - 13:52 Makkah mean time-30-1-1437
Jeddah, (IINA) - The Islamic Development Bank's (IDB) Board of Executive Directors has approved here on Wednesday new financing, amounting to a total of $593.5 million, for development projects in Kazakhstan, Gabon, Benin and Turkey.
A total of $478,000 were also approved in grants from the IDB Waqf Fund for three educational and vocational projects. These projects will benefit Muslim communities in three non-member countries - France, Rwanda and Singapore.
The Board also discussed a technical assistance grant of $270,000 approved by IDB's President for financing the feasibility study for phase II of Lipatko-Gourma regional livestock development project, which includes Burkina Faso, Mali, and Niger.
The approved new financing projects say that $249.5 million will be dedicated for the contribution to the rehabilitation of irrigation and drainage project in Kazakhstan, which aims at enhancing agriculture and reducing the import of foodstuff.
The financing also includes $210.4 million for contribution to two major projects in Gabon, $109.2 million to support primary healthcare services, and $93.2 million to support the educational development as well as $73.8 million for upgrading the Beterou-Tchaourou-Nigeria border road project in Benin, in addition to $59 million for the electric locomotive project (2TU-0148) in Turkey, which will bring the total funding for this project to $278.9 million.
The Board meeting also discussed reports on IDB’s work plan for the next three years, the proposed budget for the new fiscal year 2016, as well as a report on resource mobilization plan and Sukuk issuance strategy for 2016.
AG/IINA
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