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| Source: Islamic Development Bank. Second Lives and Livelihoods Fund meeting in Riyadh, KSA. |
Representatives from KSA, Qatar, the UAE, the Bill & Melinda Gates Foundation, the Islamic Solidarity Fund for Development, and the Islamic Development Bank (IsDB) have approved several development projects for 2017 under the US$2.5 billion Lives and Livelihoods Fund (LLF). The fund is the largest multilateral development initiative in the Middle East and North Africa for poverty alleviation in member countries of the Organization for Islamic Cooperation (OIC).
Major donors to the LLF include the KSA-based King Salman Relief and Humanitarian Aid Center (KS Relief), the Qatar Fund for Development (QFFD), Abu Dhabi Fund for Development (ADFD), the Bill & Melinda Gates Foundation, and the Islamic Solidarity Fund for Development (ISFD).
US$242.6 million was approved in financing for health, agriculture, and rural infrastructure development projects in eight member countries of the IsDB. The projects are scheduled to be implemented in Tajikistan among other countries.
Maher Al Hadhrawi, Assistant Supervisor General for Operations and Programs at KS Relief, and Chair of the LLF for its first year of operations, commented: “The second meeting of the Lives and Livelihoods Fund Impact Committee marks an important milestone in the fund’s progress.
“Over the next five years, the Lives and Livelihoods Fund will make US$2.5 billion available for anti-poverty projects in health, agriculture and rural infrastructure in Islamic Development Bank member countries. US$363 million has been approved for the Fund’s first operational year, and all the donors are working closely together to ensure that it is allocated most effectively.”
HE Dr Bandar Hajjar, President of the IsDB, commented: “The Lives and Livelihoods Fund is now making progress in its mission to help the poorest people in the Muslim world live healthier, more productive lives through investments in health, agriculture, and rural infrastructure. By innovatively combining grants from donors with loans from the Islamic Development Bank, we are able to leverage more funding than grants can alone to fight disease and poverty across the Muslim world.”
Dr Waleed Alwohaib, Director General, ISFD, said: “Through the grant contributions of the LLF, our aim is to protect communities from the risk of preventable diseases, improving reproductive, maternal and child health, increasing access to sanitation and primary healthcare, and supporting rural
development, we are empowering some of the poorest people in the world, and giving them the chance to live healthy and productive lives.”
Khalifa bin Jassim Al-Kuwari, Director General of QFFD, added, “The Lives and Livelihoods Fund is the first multilateral partnership of its kind in this region, and demonstrates the benefit of partnering with other donor organisations and regional governments. By pooling our resources together, and combining grants with finance from the IsDB, we are able to increase our impact and ultimately save more lives. At Qatar Fund for Development, we are proud to contribute to an initiative that is going to have such a massive impact on the lives of millions of people across the Islamic world.”
HE Mohammed Saif Al Suwaidi, Director General of ADFD, said: “Our contribution to the Fund articulates the development agenda pursued by the UAE government that aims to promote inclusive social and economic development through working with our partners from other development agencies to ensure the effectiveness of our aid programs. We are proud to be a founding member of the largest multilateral development initiative in the Middle East and look forward to devoting all our resources and expertise to ensuring improved livelihoods for the people of developing countries. This approach aligns well with Abu Dhabi Fund for Development’s aim to use innovative finance to support developing countries achieve their own development goals.”
Hassan Al-Damluji, Head of Middle East Relations for the Bill & Melinda Gates Foundation, noted: “Of the more than 1 billion people in the world facing extreme poverty, 400 million are living in the Islamic Development Bank’s member countries. These countries urgently need access to finance for development projects that eradicate disease, provide basic healthcare, and invest in agriculture and critical infrastructure. The Lives and Livelihoods Fund was only established in late 2016, but already it is filling this gap by supporting projects that will enable people to lift themselves out of
poverty.”
The Lives and Livelihoods Fund will make US$2.5 billion available over the next five years on projects that help the poorest people in 30 of the poorest Muslim countries lead healthy and productive lives. Administered by the IsDB, the fund combines US$2 billion of IsDB financing with US$500 million in grants from donors. So far, US$400 million in grants have been committed by the Bill & Melinda Gates Foundation (20% of the total up to US$100 million), the Islamic Solidarity Fund for Development (US$100 million), the Qatar Fund for Development (US$50 million), the King Salman Relief and Humanitarian Aid Center (US$100 million), and the Abu Dhabi Fund for Development (US$50 million).
In September 2016, the Lives and Livelihoods Fund’s Impact Committee approved projects worth US$363 million for the first of the five years that the fund will be operational.