During the meeting, the Impact Committee approved US$242.6 million in financing for health, agriculture, and rural infrastructure development projects in eight member countries of the IsDB. "Over the next five years, the Lives and Livelihoods Fund will make $2.5 billion available for anti-poverty projects in health, agriculture and rural infrastructure in Islamic Development Bank member countries. This approach aligns well with Abu Dhabi Fund for Development’s aim to use innovative finance to support developing countries achieve their development goals." 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 $2 billion of IsDB financing with $500 million in grants from donors.

Source: The North Africa Journal April 02, 2017 09:50 UTC