IsDB Governors Meeting Concludes: 2012 Plans Unveiled, New Executive Directors Named

    A glimpse of Jeddah Corniche. The 36th annual meeting of Islamic Development Bank governors took place in Saudi Arabia. Photo by: Mohammad Bahareth / CC BY

    At the end of their 36th annual meeting in Saudi Arabia, governors of the Islamic Development Bank agreed to allocate 5 percent of the bank’s expected income in 2011 for technical assistance grants in 2012.

    The governors endorsed the allocation, which is expected to be not less than $5 million, on the last day of their meeting in Saudi Arabia, on June 30, where they also agreed to spend 2 percent of the bank’s 2011 income on scholarship grants next year.

    The governors also elected nine executive directors who will serve for three years starting Nov. 19. The new directors are from Bangladesh, Burkina Faso, Ivory Coast, Kazhakhstan, Malaysia, Mozambique, Oman, the Palestinian territories and Tunisia.

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    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.