Vocational Literacy Programme (VOLIP)
In terms of the Vocational Literacy Program (VOLIP), which is a US$ 500.00 million program over a five year period (that will end in 2013), the ISFD and IDB are to contribute US$ 100.00 million over the program duration. As at the end of 1433H, the ISFD has approved financing for five VOLIP projects (two more since the last progress report) for a cumulative amount of US$ 32.61 million, and the IDB has financed US$ 20.4 million, out of a total cost of US$ 71.30 million. The IDB/ISFD financing constitutes around 66% of the target US$ 80.0 million up to 1433H (November 2012).
Microfinance Support Programme (MFSP)
The Microfinance Support Program (MFSP) is also a US$ 500.00 million program over a five year period (that will end in 2012), out of which the ISFD and IDB are expected to contribute US$ 100.00 million. The total financing of IDB/ISFD under this program is so far US$ 74.52 million, which is higher than the US$ 80.0 million target up to 1434H (November 2012).