The Fund's Board of Directors held its 2^nd Session for the year 2009 on Sunday 14^th June 2009.  The Board considered at its session the Minutes of its 1^st   Session for the year 2009 held on 9^th February, 2009 authenticated on 11^th March, 2009.  The Board also considered the Minutes of the 3rd & 4^th session for the year 2009 of the Board's Internal Auditing Committee held on 16^th March, 2009 & 10^th Jun, 2009 where the Board approved the recommendation of the Committee to approve The Fund's closing Account and the Auditors Report for the year ending March 31^st, 2009. The Board also considered the Minutes of the 1^st session for the year 2009 of the Board's Loan Committee held on 1^st April, 2009 and approved the recommendation of the Committee to consider, in principle, the proposed Fund Operation Programme for FY 2009/10 including the following Projects:

The Board also approved to consider, in principle, financing the development of the 220 kv and 66 kv Power Networks Project in the Kingdom of Bahrain.

The Board also considered the Minutes of the 2^nd session for the year 2009 for the Board's Investment Committee held on 28^th April, 2009 and decision by Circular No. (1) for the year 2009 approving an amount of 6.8 million KD for financing the Lake Bosten River Basin Environment Protection and Development Project in the People's Republic of China.

The Board has approved in its Session the following:

(1)A Loan in the amount of 15 million Kuwaiti Dinars for financing the Tamlout Dam for irrigation and portable water project in the Kingdom of Morocco. 

(2) A Loan in the amount of 2.9 million Kuwaiti Dinars for financing the Construction and Rehabilitation of Educational Buildings project in the Republic of Cape Verde.

(3) A Loan in the amount of 4 million Kuwaiti Dinars for financing the Kandi – Segbana – Nigeria Border Road Project in the Republic of Benin.

(4) A Loan in the amount of 4 million Kuwaiti Dinars for financing the  Bassar – Katchamba Road Project in the Republic of Togo.

(5) A Loan in the amount of 10.5 million Kuwaiti Dinars for financing the Kakanj – Donja Gracanica Highway Project in Bosnia and Herzegovina.

(6) A Loan in the amount of 4.34 million Kuwaiti Dinars for financing the Rehabilitation and Construction of Irrigation Network and Drainage System in Djizakh and Syrdarya Regions Project in the Republic of Uzbekistan.

(7) A loan in the amount of 4.4 million Kuwaiti Dinars for financing the Rehabilitation of Water Supply System in the City of Holguin in the Republic of Cuba.

(8) A Loan in the amount of 6 million Kuwaiti Dinars for Financing the Unt –Tarialan Road Project on Unt – Moron Corridor in Mongolia.

(9) A Technical Assistance in the amount of 150,000 Kuwaiti Dinars for the Preparation of a technical and economic feasibility study for underground energy resources to be used for electricity generation or other industries in the Grand Island of the Republic of the Union of Comores.

(10) A Technical Assistance in the amount of 1 million U.S. Dollars for the preparation of studies related to a research project for the production of membranes for water desalination in the Arab Republic of Egypt.

(11) A Technical Assistance in the amount of 600,000 Kuwaiti Dinars for the Preparation of technical and economic feasibility study and environmental impact studies and detailed engineering and tender documents for the Al-Mafraq – Al-Karameh (Iraqi Border) International Road in the Kingdom of Jordan.

(12) A Technical Assistance in the amount of 100,000 Kuwaiti Dinars for the Fisheries Project in Liptako-Gourma Region in the Republic of Niger.

(13) Amendment of Loan Agreement No. (708) dated 08/11/2005 for Financing the Rehabilitation of Tsunami Damaged Utilities Project in the Republic of Maldives.

(14) The bases of the appointment of the second external auditor for the Fund for the financial year 2009/2010.