Baku, Fineko/abc.az. The IDB Board of Executive Directors endorsed a Medium Term Program for 2010-2012).

IDB president Dr. Ahmad Mohamed Ali stated that within the three-year program the Bank will extend US$ 11.5 billion from its ordinary capital resources to finance development projects.

“The approval of this program is a part of a 9 year transformation roadmap towards realizing Vision for period until 2020. The commission chaired by Dr. Mahathir Mohamed the former Prime Minister of Malaysia, aimed through the strategy to transform IDB into an international-scale development institution,” he emphasized.

The Medium Term Program is the first stage of the transformation roadmap, thus it is crucial in addressing the foundation condition to enhance IDB Group capacity as a strategy focused organization. The program will focus on human capital development programs, develop agriculture, education sectors, and enhance infrastructure through a new strategy based on partnerships with member countries.

“IDB will continue to strengthen its role to further promote the development of Islamic financial sector through the development of Islamic Capital Markets and establishing institutions for supporting the poor,” Dr Ali said.

The Board approved the Administrative Budgets of the Islamic Research and Training Institute (IRTI) and Trust Funds for 2010.

29.12.2009 10:36