IDB Approves US$ 83 Million for Integrated Community Project in Indonesia

The Board of Executive Directors of the Islamic Development Bank (IDB), approved, yesterday, about US$ 83 million in favor of the PNPM – Integrated Community Driven Project in Indonesia.
The project will directly benefit about (14) million people or (3.5) million households in (4871) urban villages in (14) provinces.

Moreover, the Project, which is part of the overall National Program for Community Empowerment PNPM aims to reduce poverty by empowering communities , specially those who were affected by Tsunami, so that they will be effective development players and partners through a comprehensive integrated community-based approach.
The Board which concluded its 257th session at IDB headquarters in Jeddah, Saudi Arabia, recently, approved US$ (348.15) million for new projects in six member countries, including Indonesia, and grants for four Muslim communities in non- member countries.

Indonesia, which joined IDB in 1975 , is one of the founding members of IDB .The Bank's operations in Indonesia reached about (US$ 1845.5) million for (174) operations including Development Projects, Special Assistance in addition to Trade Operations.

IDB Group with its overall operations since establishment having reached (US$57) billion, is an international Islamic financial institution based in Jeddah – Saudi Arabia. The Bank which was formally opened on 20 October 1975, aims at fostering economic development and social progress of member countries and Muslim communities in non- member countries individually as well as jointly in accordance with the principles of Shari'ah i.e. Islamic Law.

The present membership of the Bank consists of 56 countries all of them are members of the Organization of Islamic Conference.