Home Business $1.5 billion financing by IsDB’s Lives and Livelihoods Fund for 33 member states in six years

$1.5 billion financing by IsDB’s Lives and Livelihoods Fund for 33 member states in six years

by Dubai Forum
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SHARM El SHEIKH, 2nd June, 2022 (WAM) — The Lives and Livelihoods Fund (LLF), part of the Islamic Development Bank (IsDB), has provided financing worth US$ 1.5 billion since its foundation in September 2016 through Q1-22, its head revealed.

Dr. Waleed Addas, Head of the LLF, told the Emirates News Agency (WAM) on the sidelines of the 2022 IsDB Group Annual Meetings, held in Sharm-Elsheikh, Egypt, that the financial facilities had been extended to 33 IsDB member countries.

Abu Dhabi Fund for Development (ADFD), is one of LLF’s key donor partners on this innovative initiative.

The IsDB and development cooperation partners launched a US$2.5 billion LLF in 2016 with a joint vision to raise the poorest out of poverty in IsDB member countries. The LLF is the largest development initiative of its kind in the Middle East and serves 33 IsDB member states.

WAM/Tariq alfaham/Hatem Mohamed

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