President of the Jeddah-based Islamic Development Bank (IDB) Dr Ahmad Mohammed Ali has announced the approval of the five-year strategic plan of the IDB (1426H-1430H). At the end of the 227th session of the Council of the IDB's Executive Directors on Monday, Dr Ali said the Council had approved allocations worth $1, 254 million for contribution to financing seven development projects in the IDB's member states in addition to technical assistance and non-repayable gifts for nine Islamic communities in non-member states. The Council also endorsed financing of ten trade transactions and industrial projects as well as 12 foreign trade transactions. The Council reviewed a number of technical and administrative reports.