Rome, Italy 26^th July 2023 - At UN Food Systems Summit +2 Stocktaking Moment, HE Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group (IsDB), participated in a Panel Discussion themed "Catalyzing Food Systems Transformations: The Food Systems Window of the UN Joint SDG Fund."

During the discussion, Dr. Al Jasser addressed the pressing issue of historical structural fragilities affecting food systems and agriculture across the world, and how IsDB and other International Financial Institutions can contribute to the strengthening of national fiscal spaces and development of a sustainable private sector.

Islamic Development Bank Group’s commitment to catalyzing food systems transformations is particularly relevant, given that a significant number of its member countries hail from the Global South, many of which were severely impacted by recent food crises. Among the 47 low-income food-deficit countries, 26 are IsDB member countries, and 18 out of the 39 countries facing fragile and conflict situations are also part of the IsDB network, further burdened by the impacts of climate change.

During the Q&A session, Dr. Al Jasser welcomed the idea of leveraging the seed funding and technical assistance provided by the UN system to support the strengthening of national fiscal spaces and the development of a sustainable private sector. IsDB has a strong working relationship with the UN System, having collaborated on numerous successful initiatives in the past.

Acknowledging that some member countries have reached their debt limits, Dr. Al Jasser emphasized the importance of blending the seed funding and technical assistance from the UN system with IsDB's financing. This blending approach can make the financial assistance more concessional, enabling countries to access the necessary resources without falling into debt distress.

IsDB's experience in blended finance has been commendable, particularly through its Lives and Livelihoods Fund (LLF). Collaborating with various esteemed partners, including the Abu Dhabi Fund for Development, the Bill and Melinda Gates Foundation, the Islamic Solidarity Fund for Development, the King Salman Humanitarian Aid and Relief Center, and the Qatar Fund for Development, LLF has been instrumental in uplifting millions out of poverty in IsDB member countries.

Under Phase 1 of LLF, IsDB is currently implementing agriculture/food security-related projects worth nearly USD 1 billion in 13 countries, focused on improving access to quality healthcare, enhancing small-holder farmers' livelihoods, and undertaking crucial infrastructure projects. The involvement of the private sector ensures the sustainability of these projects beyond their closure. Additionally, IsDB's Reverse Linkage model and science, technology, and innovation approaches are embedded in these projects, fostering progress and innovation.

Buoyed by the positive outcomes of Phase 1, the Islamic Development Bank and its development partners officially announced the launch of LLF 2.0 for the next five years on the sidelines of the 2023 IsDB Group Annual Meetings. LLF 2.0 presents a flexible and efficient financing mechanism to support government social development projects aligned with the Sustainable Development Goals.

In his concluding remarks, Dr. Al Jasser reiterated IsDB's unwavering commitment to collaborating with the UN system and other development partners to catalyze food systems transformations. The objective is to achieve food security, promote healthy diets, foster economic well-being, enhance social well-being, and ensure environmental sustainability for all.