IDB general assembly sees through the approval of health, education and food plans for its member countries (By IFN)

IDB general assembly sees through the approval of health, education and food plans for its member countries

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GLOBAL: The IDB general assembly which was held in Dushanbe, Tajikistan last week saw through the approval of 16 plans in the framework of 31 approvals and the signing of six MoUs with developing countries including Chad – ranked as one of the poorest countries in the world – Sierra Leon, Sudan, Afghanistan, Kosovo and Uganda in the areas of transportation, healthcare, education and food. The bank had also agreed to finance the facilitation of energy transfer between Iran, Afghanistan and Tajikistan; as well as to provide aid to water and road projects in these countries. This was confirmed after the IDB had reviewed the feasibility studies and the primary stage plans of the projects. The bank will also allocate 2% of its net income to provide scholarships to students in its member states, as well as increase its capital by three times to SAR100 billion (US$26.66 billion) from SAR30 billion (US$8 billion). The Export Development Bank was also admitted as a member of the board of directors for the International Islamic Company; a subsidiary of the IDB, while a cooperation agreement was mooted with the Iranian National Development Fund for the implementation of construction plans. The IDB’s main focus moving forward will be on increasing cooperation with Central Asian countries, said its president, Ahmad Mohammad Ali; while it was confirmed that next year’s general assembly will be held in Saudi Arabia.