ISFD Approves US$ 19 Million for Rural Development in Sudan and Combating Malaria in Chad

17.2.09 : The Board of Directors of the Islamic Solidarity Fund for Development (ISFD) which held recently its 9th meeting at the headquarters of the Islamic Development Bank (IDB) in Jeddah approved two Projects totaling US$ 19.4 million for rural development in Sudan and combating Malaria in Chad. The US$ 12.6 million Water Harvesting Project for Agro- Pastoral Development in Al –Gadarif State in eastern Sudan, which was approved by the Board, aims at securing enough water during dry season for both agricultural and pastoral purposes to improve life conditions for rural population and increase their income. The Board was also informed about the Malaria Prevention and Control Project in Chad, which was approved by the Chairman of ISFD following the previous session of the Board, at the cost of US$ 6.8 million. The Project is a part of the Pilot Program on Roll Back Malaria under IDB Vision 1440 H- Quick Wins Projects. The Board which was presided over by H.E. Dr. Ahmad Mohamed Ali the Chairman of the ISFD reviewed reports on the update and status of the ISFD and the Fund's partnerships with other organizations. The ISFD initiative goes back to the OIC Extraordinary Summit held in Makkah in December 2005 within the 10-year program of action adopted by the OIC. The IDB was entrusted with establishing the Fund. The Fund was officially launched in 2007 during the 32nd annual meeting of the IDB Board of Governors in Dakar, Senegal with a target capital of US$ 10 billion.