The Islamic Development Bank (IDB) extended a technical assistance grant of SR1 million ($266,000) to the Higher Commission for Development of Hail Region.
The sum is part of the $362 million approved by the IDB Board of Executive Directors for project financing, trade operations and special assistance programs, during its 224th session conducted in Jeddah last week.
IDB President Dr Ahmad Mohammed Ali, who chaired the session, said that the grant includes $136.5 million for project financing, and almost $1.3 million for educational institutions in non-member countries. It also includes $223.2 million approved by the IDB President for trade operations and technical assistance overseen by the Board of Executive Directors.
The Board approved $1 million in special assistance for joint international efforts to assist IDB member countries in northwest and west African countries where agriculture has been seriously affected by locust infestation.
The Board decided to submit a draft resolution on the necessity of an increase in trade between member countries of the Organization of Islamic Conference (OIC) at the forthcoming annual meeting of the Board of Governors in Tehran, 14-15 September.
Source: SPA
