Islamic Development Bank Approve Funds for Establishment of Afghanistan Humanitarian Trust Fund

Islamic Development Bank Board of Executive Directors Approves US$ 338 Million for Development
Projects in Member Countries and Establishment of Afghanistan Humanitarian
Trust Fund
The Board of Executive Directors of the Islamic Development Bank (IsDB), in its 344th meeting, virtually held on 13th February, under the chairmanship of IsDB President, H.E. Dr. Muhammad Al Jasser, approved the establishment and operationalization of the Afghanistan Humanitarian Trust Fund (AHTF) as a trust fund to be administered by the IsDB. The OIC Foreign Ministers entrusted IsDB to establish and operationalize the AHTF to serve as a vehicle to channel humanitarian and development assistance to Afghanistan.
The Board welcomed the OIC invitation to its member states, Islamic financial institutions, donors, and other international partners to announce pledges and contributions to the Fund and to provide humanitarian assistance
to Afghanistan. For project financing, it approved  US$ 337.63  million for transport, agriculture, and human capital development projects in Guinea, Cote d’Ivoire, and Senegal.
The Board Members also cleared the draft agenda of the 47th Annual Meeting of the IsDB Board of Governors, which will take place in June 2022 in the Arab Republic of Egypt.
They were briefed on the latest activities related to the sixth general increase in the Bank’s capital and the financing plan and strategy for 2022, and the results of the comparison between the administrative expenses of the
Islamic Development Bank and other multilateral development banks. The Board also reviewed the tenth report on the business continuity management procedures of the Islamic Development Bank Group (BCM) to mitigate the effects of COVID-19 on staff safety and the Bank’s operations. The Board Members reviewed the tenth progress report on the Strategic Program for Preparedness and Response of the Islamic Development Bank Group to counter the effects of the COVID-19 pandemic on member states.
Courtesy by: