JEDDAH: Under the patronage of King Abdullah, Custodian of the Two Holy Mosques, Jeddah is scheduled to host a four-day economic gathering of the 36th session of the Governors Council of the Islamic Development Bank (IDB) Sunday, thought to be the largest gathering in the history of the council. Dr. Ahmad Muhammad Ali, IDB President, expressed his thanks and appreciation to King Abdullah for the support provided to the bank since its establishment, which has allowed it to become a group of integrated financial entities. He said the bank has financed projects worth $70 billion since its establishment, until December 2010. Of this amount, 40 percent has been allocated for financing projects and technical assistance with nonprofit and easy loans – 58.8 percent for financing trade and 1.2 percent in the form of grants for Islamic communities in member states to finance education and health projects. He said among the most important items on the meeting's agenda, which will be held at the level of finance ministers of the 56 member states, is the program to help Palestinian families in business and to fight unemployment and prepare the youth for work.
