Islamic Development Bank and KSrelief Sign a US$ 100 million Agreement to Advance Sustainable Development in Middle- and Low-Income Member Countries Through Lives & Livelihoods Fund 2.0

RIYADH, Saudi Arabia, Feb. 24, 2025 /PRNewswire/ -- On the margins of Riyadh International Humanitarian Forum, the Islamic Development Bank (IsDB) and King Salman Humanitarian Aid and Relief Centre (KSrelief) signed a Donor Contribution Agreement (DCA) worth US$ 100 million.

The 5-year DCA was signed by IsDB President H.E. Dr. Mohammed Salman Al-Jasser and KSrelief Supervisor General H.E. Dr. Abdullah AlRabeah in Riyadh for the second phase of Lives and Livelihoods Fund (LLF 2.0). The Agreement builds on the ongoing partnership and pledges stronger cooperation in accelerating progress towards long-term development in 32 IsDB member countries.

Under the newly signed DCA, LLF 2.0 will strengthen member countries' capacity for high-impact and future-ready development, aligned with their needs and SDG-driven priorities. Forms of collaboration will include direct financial and technical assistance for effective project implementation to achieve meaningful results at scale.

The Lives and Livelihoods Fund is a US$ 2.5 billion development initiative launched in 2016 and funded by an unprecedented global coalition of the Abu Dhabi Fund for Development (ADFD), Gates Foundation, the Islamic Development Bank, the Islamic Solidarity Fund for Development (ISFD), King Salman Humanitarian Aid and Relief Centre, and the Qatar Fund for Development (QFFD).

The donor investments provide concessional financing to countries for scaling up primary health care systems, improving livelihoods and productivity of smallholder farmers, and building the blocks of social infrastructure. LLF's multisector initiatives are also designed to address cross-cutting issues such as climate adaptation, and women and youth empowerment development.

In May 2024, LLF partners including Abu Dhabi Fund for Development, Gates Foundation, Islamic Development Bank, ISFD, and KSrelief, jointly announced an additional US$ 240 million channeled into new socioeconomic and human capital development projects.

These announcements signaled the commitment of LLF donors to expand their cooperation on the ground in other countries in Sub-Sahara Africa, Asia and Middle East regions.

NOTES TO EDITORS

ABOUT OUR DONORS

The Abu Dhabi Fund for Development (ADFD) is a leading national development-financing institution. It was established in 1971 by Sheikh Zayed bin Sultan Al Nahyan, the country's founding father, who stressed the importance of enabling developing countries to achieve their development goals. ADFD provides concessional loans for infrastructure development and manages government grants for strategic projects for partner countries to bolster their economy. It also invests in diversified financial portfolios in partner countries, in addition to making investments in the UAE to support the national economy and drive forward its sustainability agenda. ADFD leverages its strategic relations with more than 100 countries to support the UAE's private sector, facilitate exports, promote Emirati products around the globe and create investment opportunities for partner nations.

Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people's health and giving them the chance to lift themselves out of hunger and extreme poverty. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Co-chairs Bill Gates and Melinda French Gates and the board of trustees.

The Islamic Development Bank (IsDB) is the AAA-rated multilateral development bank (MDB) of the Global South since 1975. It is working to improve the lives of those it serves by promoting social and economic development in its 57 member countries and Muslim communities worldwide, delivering impact at scale.

The Islamic Solidarity Fund for Development (ISFD) is dedicated to reducing poverty in its member countries by promoting pro-poor growth, emphasizing human capital development (especially improvements in healthcare and education), and support economic empowerment especially for women and youth by providing concessional financial resources to enhance the productive capacity and sustainable means of income for the poor.

King Salman Humanitarian Aid and Relief Centre (KSrelief) is the humanitarian arm of the government of the Kingdom of Saudi Arabia, and its mission is to manage and coordinate the provision of all of the Kingdom's external aid. Since its inception in 2015, KSrelief has implemented thousands of projects with its many humanitarian partners, with particular focus on the most vulnerable groups, especially women and children. KSrelief, on behalf of the Kingdom, has helped to alleviate the suffering of millions of people in need worldwide.

The Qatar Fund for Development (QFFD) is a public institution committed, on behalf of the state of Qatar, to implementing foreign aid projects. Since 2012, QFFD has been providing aid to many countries in accordance with international cooperation goals of the Qatar National Vision 2030, and in line with best practices and standards. QFFD's main goal is to achieve inclusive and sustainable development by addressing global priority issues in education, health, and economic empowerment.

About KSrelief:

The King Salman Humanitarian Aid and Relief Centre (KSrelief), established under the guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, represents Saudi Arabia's commitment to global humanitarian efforts. Inaugurated in May 2015, KSrelief has provided impartial humanitarian aid and relief to over 100 countries in cooperation with local, regional, and international organizations. 

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