JEDDAH: The Islamic Development Bank has approved the setting up of the Afghanistan Humanitarian Trust Fund.

IsDB officials gave the green light to the fund, that will be administered by the bank, during a virtual meeting on Sunday chaired by its president, Dr. Muhammad Al-Jasser.

Foreign ministers of the Organization of Islamic Cooperation entrusted the bank to establish and operationalize the fund to serve as a vehicle to channel humanitarian and development assistance to Afghanistan.

The board welcomed an OIC appeal to its member states, Islamic financial institutions, donors, and other international partners for pledges and contributions to the fund.

Meanwhile, the bank approved $337.63 million for transport, agriculture, and human capital development projects in Guinea, Ivory Coast, and Senegal. Board members also cleared the draft agenda of the 47th annual meeting of the IsDB board of governors, which will take place in June, in Egypt.

They were briefed on the latest activities related to the bank’s capital, financing plan, and strategy for 2022, along with the results of comparisons between the bank’s administrative expenses and those of other multilateral development organizations.

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