IDB Headquarters, Jeddah, Saudi Arabia

Jeddah (IINA) : The Board of Executive Directors of Islamic Development Bank (IDB) on Sunday agreed to finance new development projects worth $863 million in a number of member states.

This came during the 316th session of the Board held at the bank headquarters in Jeddah. President of IDB Group Bandar bin Mohammed Hajjar chaired the session.

The funding approved by the Board includes new development projects in a number of countries, such as $208 million for road projects in the Republic of Guinea; $170 million for the third phase of a solar generation project in the United Arab Emirates; $105 for an Aluminum company in Bahrain; $94 million for a rural development project in Morocco; $92.3 million project for combating malaria in Senegal; $91.5 million for roads rehabilitation project in Togo; $60 million for establishing and equipping a public hospital in Djibouti; a loan worth $8 million to finance a solar generation plant in Chad; $5 million for power generation project in Jordan; and $4 million for power generation in Mali.

The meeting also endorsed some programs and plans, mainly the action plan for the next three years (2017-2019) estimated at $16 billion, and the budget for the new fiscal year 2017 worth $5.2 billion.