Riyadh, Saudi Arabia, 1 May 2024 – The Islamic Development Bank’s administered Lives & Livelihoods Fund (LLF) has received a major boost with a new funding of US$ 100 million announced by the King Salman Humanitarian Aid and Relief Centre (KSrelief) of the Kingdom of Saudi Arabia.

Saudi Arabia has a decades-long commitment to steer sustainable development in low- and middle-income countries and close the economic divide that locks countries in a cycle of poverty, undercuts their capacity to respond to the needs of vulnerable communities, and prevents their equal access to resources.

Fresh replenishment by KSrelief aim to build upon its initial contributions of US$ 100 to LLF as a demonstration of its commitment to improving lives in low-income countries.

Earlier this week, on April 29, 2024, four global development partners including the Abu Dhabi Fund for Development, the Bill and Melinda Gates Foundation, the Islamic Development Bank, and KSrelief, jointly announced an additional US$ 219 million in donor support for total 37 projects in 22 IsDB member countries through the Lives and Livelihoods Fund 2.0 (LLF 2.0). The announcement was made during the Charter Signing Ceremony at the IsDB Annual General Meetings 2024 in Riyadh. 

The newly announced funding will further expand our joint efforts under LLF 2.0 to lift the poorest out of poverty across 33 IsDB member countries. The innovative LLF financing model provides concessional financing to countries for strengthening primary health care systems, improving the livelihoods and productivity of smallholder farmers, and building the blocks of social infrastructure for the most vulnerable.

With the support of KSrelief and our partners, LLF’s overall investment portfolio stands at US$ 1.5 billion, channeled into critical socioeconomic and human capital development projects in member countries.  

The Lives and Livelihoods Fund (LLF) is a US$ 2.5 billion development initiative launched in 2016 and funded by an unprecedented global coalition including the Abu Dhabi Fund for Development (ADFD), the Bill & Melinda Gates Foundation (BMGF), the Islamic Development Bank (IsDB), the Islamic Solidarity Fund for Development (ISFD), King Salman Humanitarian Aid and Relief Centre (KSrelief), and the Qatar Fund for Development (QFFD). As the largest development initiative in the Middle East, its goal is to lift the poorest out of poverty across 33 IsDB member countries by addressing nine Sustainable Development Goals (SDGs) through projects in health, agriculture, and basic infrastructure.
 

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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.

The Bill & Melinda 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.

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