Sharm El Sheikh, Egypt, 8 November 2022 – Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, says IsDB Group’s USD 10.54 Food Security Response Program (FSRP) is a proactive effort to support the Bank’s member countries address the immediate and long-term challenges of food insecurity.

“Through the FSRP, our aim is to address the needs of the present and also prepare for the long-term sustainability by developing a robust food system beyond the current food crisis”, he told a side event at IsDB Group pavilion on the premises of the ongoing COP27 summit in, Sharm El Sheikh, Egypt.

Referring to the supply chain disruptions caused by the ongoing conflict in Eastern Europe that has exacerbated food insecurity worldwide, Dr. Al Jasser stated that each night nearly 800 million people go to bed hungry, while natural catastrophes and climate shocks continue to destroy infrastructure, crops, and livelihoods. 

“Understanding these precarious times, especially for our member countries, we established an ambitious FSRP in July 2022 which aims to not only address the needs of the present but also prepare for the long-term sustainability by developing a robust food system beyond the current food crisis,” Dr. Al Jasser stated adding “I am pleased to announce that in the last 3 months, since the launching of FSRP, we have already approved nearly US$1 billion for our member countries for both short-term and long-term efforts to ensure sustainable food systems.”

In his remarks, the IsDB Group Chairman elaborated: “The Bank’s Realigned Strategy 2023-2025 affirms our commitment to enhance the resilience of critical systems in our member countries, such as agriculture, and empower our clients to harness the numerous benefits of an inclusive, green and sustainable economy.”

Egypt’s Minister of Planning and Economic Development, H.E. Dr. Hala El-Said enumerated the various initiatives the Government of Egypt is undertaking, such as Haya Karima which helps to consolidate all efforts of the state, civil society and the private sector. The initiatives aim to tackle multidimensional poverty in urban and rural areas of the country.

Present at the side event were; the Minister High Commissioner for the 3N Initiative of the Republic of Niger Mr. Ali Bety; Executive Secretary of the United Nations Economic Commission for West Asia, Ms. Rola Dachti; Commissioner for Economic Affairs of the ECOWAS Commission, Ms. Massandje Toure-Litse; as well as a host of international participants.