The Fund's Board of Directors held its 1st Session for the year 2011 on Sunday, March 20, 2011. The Board considered at its session the Minutes of it's 2nd Session of the Board for the year 2010 held on 29/11/2010 and authenticated on 29/12/2010. The Board also considered the Minutes of the 1st session of the Board's Loan Committee for the year 2011 held on 13/03/2011 and approved the Committee's recommendation to approve, in principle, the Fund's programme of operations for the financial year 2011/2012 which includes the following projects:

- Egypt : (1) South Halwan Steam Turbine Power Generation Project 
  (1st Loan ).
  (2) South Halwan Steam Turbine Power Generation Project  
  (2nd Loan ).
- Bahrain : Water Transmission Development Project. 
- Jordan : The 3rd Expansion of Al-Samra Power Station 
  (Adding a Steam Turbine Unit)
- Lebanon : (1) Sewerage System for Al-Sarafund Area's Project
  (2) Sewerage System in Marjayoun Area's Project. 
- Bangladesh : Lebukhali Bridge in Dhaka Project.
- Chad : Ngoura-Pol Road Project
- Uganda : Construction, Expansion and Equipping 4 Technical Institutions
- Rwanda : Lot No. 6, Multinational Corridor Project.

The Board considered in its session the Minutes of Meetings of the 5th, 6th, 7th and 8th for the year 2010 and the 1st Session for the year of 2011 of the Board's Internal Audit Committee held on 10/10/2010, 6/12/2010, 13/12/2010, 29/12/2010 and 2601/2011 respectively. The Board also considered the Board's Internal Audit Committee Letter sent to the Chairman and the Board Members dated 26/10/2010 and the Committee's 3rd Report. The Board also considered the Minutes of the Board's Investment Committee in its 1st Session for the year 2011 held on February 1, 2011. 

The Board also considered the Decision by Circular No. 4 for the year 2010 dated 12/12/2010 approving a Loan to the Republic of Sudan for financing the Upper Atbara river and Setit Dams Project and the Decision by Circular No. 1 for the year 2011 dated 11/01/2011 approving the assignment of the Fund's External Auditors for the Fund's Accounts for the Fiscal Year 2010 - 2011.
The Board approved in its Session the following: 

(1) A Loan in the amount of 25 million Kuwaiti Dinars for financing High Speed Tangier-Casablanca Railways Project (Tangier – Kenitra 1st Phase) in the Kingdom of Morocco.

(2) A Loan in the amount of 4.25 million Kuwaiti Dinars for financing the Developing Three Tertiary Specialized Hospitals Project in the Republic of Sierra Leone.

(3) A Loan in the amount of 3.3 million Kuwaiti Dinars for financing the Building and Equipping a Regional Hospital Center Project in Manga City Project in Burkina Faso. 

(4) A Loan in the amount of 3 million Kuwaiti Dinars for financing the South Eastern University of Sri Lanka Development Project - (Phase 1B) in the Democratic Socialist Republic of Sri Lanka.

(5) A Loan in the amount of 4.3 million Kuwaiti Dinars for financing the Rural Infrastructure Development Project in Ha Tinh Province in the Socialist Republic of Vietnam.

(6) A Loan in the amount of 6 million Kuwaiti Dinars for financing the Upgrading of 4R87 Guzar-Chim-Kukdala Highway Project in the Republic of Uzbekistan.

(7) A Supplementary Loan in the amount of 3.5 million Kuwaiti Dinars for financing the Third Expansion Project of Al Samra Power Generation Station in the Kingdom of Jordan and amending the Loan Agreement No. 802 dated 18/3/2010.

(8) A Supplementary Loan in the amount of 2.9 million Kuwaiti Dinars for Zomba – Jali – Phalombe – Chitakale Road in the Republic of Malawi and amending the Loan Agreement No. 688 dated 8/12/2004.

(9) A Technical Assistance in the amount of 250,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and detailed design for the East Cost Plaisance – Golden Grove Four Lane Road Project in the Cooperative Republic of Guyana.

(10) A Technical Assistance in the amount of 100,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and Detailed Design for the Improvement of Sewerage System in the Greater Banjul Area Project in the Republic of the Gambia.

(11) A Technical Assistance in the amount of 200,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Study and the Preliminary Design for the Sitapaila – Dharke Road Project in the Republic of Nepal.

(12) A Technical Assistance in the amount of 500,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and Preliminary Design for the Construction of the Gbarnga – Mendicorma Highway Project in the Republic of Liberia.

(13) A Grant in the amount of 1.09 million Kuwaiti Dinars to cover the financing gap for the Halath Bu Maher Medical Center and a new Grant in the amount of 660,000 Kuwaiti Dinars for the Maintenance Work of the number of medical centers in the Kingdom of Bahrain.

(14) A Grant in the amount of 5.2 million US Dollars to cover the Financing Gap for the Chernobyl Shelter Fund.

(15) A Grant in the amount of Kuwaiti Dinars 300,000/- to cover the administrative cost and the training program for the Fiscal Year 2011- 2015 for the International Development Law Organization (IDLO).

(16) Kuwait Fund contribution, on behalf of the Government of the State of Kuwait, for the 12th Replenishment of African Development Bank/Fund Group.

(17) Kuwait Fund contribution, on behalf of the Government of the State of Kuwait, for the 16th Replenishment of International Development Agency (IDA).

(18) Contribution of the Fund within the Framework of the HIPC Initiative to reduce the burden of debt owed to the Fund by the Republic of Liberia.