IDB approves $243m to combat poverty

IDB approves $243m to combat poverty
Updated 10 April 2017

IDB approves $243m to combat poverty

IDB approves $243m to combat poverty

RIYADH: The Lives and Livelihoods Fund (LLF) board of the Islamic Development Bank (IDB) has approved $242.6 million to finance several development projects to fight poverty in eight member countries.
The projects are in the areas of health, agriculture and rural infrastructure in Tajikistan, Sudan, Djibouti, Niger, Mauritania, Cameroon, Uganda and Guinea.
The board meeting was held to identify projects with the greatest impact in the fight against poverty and disease in Muslim countries, and thus contribute to better living standards for beneficiary communities.
IDB President Dr. Bandar Hajjar said the LLF continues to advance its mission to help the poorest communities in the Muslim world lead healthier and more productive lives by investing in health, agriculture and rural infrastructure.
“By combining grants from donor institutions and IDB loans, we are seeking to provide more financial assistance to fight disease and poverty across the Muslim world compared to what grants can achieve alone,” he said.
Maher Al-Hadrawi, assistant general supervisor of operations and programs at the King Salman Center for Humanitarian Relief, said: “The second meeting of the LLF executive board represents an important milestone in the progress of this noble initiative. In March 2017, we succeeded in launching the first project by the fund to support the efforts of the Senegalese government to fight and eradicate malaria.”
The meeting, held for the second time since its establishment in Riyadh, was opened by Dr. Abdullah bin Abdulaziz Al-Rabiah, adviser to the Royal Court and general supervisor of the King Salman Center for Humanitarian Relief and Works.
It was attended by representatives from Saudi Arabia, Qatar, the UAE, the Bill & Melinda Gates Foundation and the Islamic Solidarity Fund for Development.