The Board of Directors of the Islamic Solidarity Fund (ISFD) approved $72.2 million for new projects in five-member countries. The Fund said in a statement that programs included in the projects are vocational literacy, microfinance support, communicable diseases (AIDS and malaria), water and sanitation. The Board which held its 8th meeting at the Islamic Development Bank Group headquarters in Jeddah under Dr. Ahmad Mohamed Ali, chairman of the ISFD Board of Directors, reviewed a progress report on the Fund performance and its future plans. The new approvals cover different poverty alleviation projects in Bangladesh, Indonesia, Burkina Faso, Jordan, and Chad. The ISFD was officially launched in 2007 during the 32nd annual meeting of the IDB Board of Executive Directors in Dakar, Senegal with a target capital of $10 billion. The Fund aims to combat poverty in member countries. Under the new project, $18 million will be allocated to improving rural livelihoods through solar energy project in Bangladesh; $15 million for integrated community-driven development project in Indonesia; $12 million for the Dangoumana hydro-agricultural development project in Burkina Faso; $6.05 million loan for a microfmance project in Chad and $11.2 million for the Arboutchatak-Bitkine road project in Chad. - SG Earlier, the Board of Executive Directors of IDB approved $2.47 billion for its 2009 operational plan to finance various development projects, technical assistance projects and food security in member countries. The decision was made at the board's meeting at IDB headquarters in Jeddah.
