2004 News Story

IDB announces five-year strategic plan

President of the Jeddah-based Islamic Development Bank (IDB) Dr Ahmad Mohammed Ali has announced its five-year strategic plan for 1426-1430H [2005-2009]. At its 227th meeting yesterday, the Council of Executive Directors approved allocations worth U.S. $1.25 billion. These will go towards the financing of seven development projects in IDB member states; extend technical assistance and non-repayable grants to nine Islamic communities in non-member states; and fund a number of trade transactions and industrial projects.