JEDDAH: The Islamic Development Bank (IDB) is providing funding worth over $3.3 billion for development in the Sumatra, Kalimantan and Sulawesi regions of Indonesia. IDB President Ahmad Muhammad Ali revealed the figure as he announced the strategic partnership program between the IDB and Indonesia at the bank's orientation day in Jakarta recently. He said that the partnership reflected the bank's long-term strategy with Indonesia and expressed his pride at the “great economic achievements made by Indonesia which have put it at the top of the emerging economies in Asia and IDB member states”. Armida Alisjahbana, Indonesia State Minister of National Development Planning, praised the IDB for its help in development in Indonesia, saying that 60 percent of IDB funding to her country goes on health and education. “This makes the IDB the highest contributing international financial institution to Indonesia's development process,” she said. Indonesian Finance Minister Agus Martowardojo lauded the IDB for its support and “standing by my country, particularly during times of crises”, citing the “huge financial aid” the bank provided during the devastating earthquake of 2004.
