JEDDAH, 16 February 2006 — The Islamic Development Bank (IDB) yesterday signed a memorandum of understanding with Pakistan on carrying out reconstruction projects in the country’s quake-hit regions. Khaled Saeed, secretary for economic affairs at the Pakistani Ministry of Economy and Statistics, and Ahmed Abubakar Seesi, IDB vice president for operations, signed the agreement. The agreement will facilitate implementation of reconstruction projects approved by an IDB team following its visit to the quake-hit areas in northwestern Pakistan and Azad Kashmir last December. The bank also agreed to offer technical assistance in the form of a grant for $285,000 to prepare and implement Pakistan’s reconstruction plan for the areas destroyed by a devastating Oct. 8 earthquake.
