The Fund's Board of Directors held its 3rd Session for the year 2008 on Wednesday, 10th September, 2008. The Board considered at its session the Minutes of it's 2nd Session for the year 2008 held on 11th June, 2008 and authenticated on 20th August, 2008. The Board also considered the Minutes of the 7th & 8th Sessions for the year 2008 of the Board's Internal Auditing Committee held on 31st August, 2008 & 3rd September, 2008.

The Board has approved in its Session the following:

(1) Minutes of the 2nd Session for the year 2008 of the Board's Loan Committee held on 2nd September, 2008, which included the Committee's recommendation for commencement of the Fund's operation in the People's Republic of Laos and the Union of Myanmar and the Committee's recommendation to approve, in principle, the Fund's participation in the financing of the following Projects:

i. Kingdom of Morocco: Tamlolth Dam Project.
ii. Syrian Arab Republic: Transfer of the Euphrates River Water from Dear Elzoor to Tadmur.
iii. Republic of Ghana: Expansion, Rehabilitation and Equipping of Bolgatanga Regional Hospital Project (3rd Phase).
iv. Republic of Madagascar: The Rehabilitation of the Bekoratsaka – Boriziny Road (National Road No. 6) (2nd Loan).
v. Islamic Republic of Pakistan: Neelum Jhelum Hydro Electric Project.
vi. Socialist Republic of Vietnam: Cha To – Muong Tung Road in Dien Bien Province.
vii. Republic of Bosnia and Herzegovina: Donja Gracaica Kakanj Motorway Project.
viii. Republic of Tajikistan: Kulyab – Kalaihumb Road Project.
ix. Republic of Cuba: Holguin City Water Supply System Rehabilitation Project.
x. People's Democratic Republic of Laos: Power Transmission Line of 115 kv.

(2) The Fund's 46th Annual Report (2007/2008).

(3) The Fund's Estimated Budget for the Fiscal Year 2009/2010.

(4) A Loan in the amount of 7 million Kuwaiti Dinars for the Wukro – Zalambesa Road Project in the Federal Democratic Republic of Ethiopia.

(5) A Loan in the amount of 6.2 million Kuwaiti Dinars for the Pyongyang City Wastewater Project (Pumping Stations) in the Democratic People's Republic of Korea.

(6) A Second Loan in the amount of 21 million Kuwaiti Dinars for the Beirut Eastern Entrance –Syrian Boarder Road Project - Phase I (Hazmia – Sofar) in the Republic of Lebanon.

(7) A Technical Assistance in the amount of 100,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and Preliminary Design for Improving the Irrigation System in Napon Hopkasa Project in the People's Democratic Republic of Laos.

(8) A Technical Assistance in the amount of 250,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and preliminary design for the Phyu Chaung Multipurpose Dam Project in the Union of Myanmar.

(9) A Technical Assistance in the amount of 300,000 Kuwaiti Dinars for the preparation of Technical and Economic Feasibility Studies and Preliminary Design for the Irrigation Development Project in Stung Sen River Basin in the Kingdom of Cambodia.

(10) Renewal of Contract of the Fund's External Auditors for the Fiscal Year 2008/2009.

(11) A Contribution of 10.15 million US Dollars, on behalf of the Government of the State of Kuwait, for the 11th Replenishment of African Development Fund.

(12) Application of the HIPC Initiative to debt owed to the Fund by the Republic of the Gambia.