The Board of Executive Directors of the Islamic Development Bank (IDB) approved $2.47 billion for its 2009 operational plan to finance various development projects in a meeting at the IDB headquarters here under the chairmanship of Dr. Ahmad Mohamed Ali, IDB president. The approved operations plan include $2.09 billion toward regular funding and $381 million to be allocated toward programs and projects in member countries. Additionally, $357 million in loans will be allocated under the Islamic Solidarity Fund for Development to alleviate poverty. Some 153 operations covering 56 projects, and 87 technical assistance programs had been approved by the board, totaling $2.13 billion. The 2009 plan increased 15 percent against the preceding year's plan. The board also approved $277 million for development projects and technical assistance in member countries, and grants from WAQF Fund for Islamic communities in non-member countries. Details of project financing are as follows: $153.6 million installment sale for a railway track project, Turkey. $52.65 million Istisna'a financing for the reconstruction of irrigation and draignage network in Djizzakh and Syrdaria Regions, Republic of Uzbekistan. $37.3 million Istisna'a financing for the Arboutachatak-Bitkine Road Project, Chad $16.17 million Istisna'a sale for the Dangoumana Hydro-Agricultural Development Project, Burkina Faso. Grants from the Waqf Fund: $125,000 for the construction of Vocational Training Circle for Muslim Ladies Study Circle in Galle Town, Sri Lanka $115,000 for the construction of Students Hostel Building for Jamiatul Islah Islalmia, Bhutaha Town, Nepal $150,000 for the construction of girls hostel building at Hazrat Munam Pak Talimee Public School, Maharajguni, Hazaribagh District, Jharkhand State, India. $300,000 for the rehabilitation of schools in cyclone Nargis affected area in Myanmar. __
