WFP’s Executive Director David Beasley and Dr. Bandar Hajjar, President of the IsDB Group, signed the MoU on the side-lines of the World Economic Forum in Davos, Switzerland.

With this, the two leaders agreed to have both organisations work together to identify co-financing and alternative financing mechanisms, along with cooperation opportunities for programs and projects in humanitarian and development settings, particularly in the areas of food security, nutrition, agriculture, rural development, and human capital and institutional development.

Speaking about the agreement. H.E. Dr Bandar Hajjar said: “This memorandum reflects WFP’s and IsDB’s commitment to cooperate on innovative, high-impact food security and nutrition projects in our member countries. It is based on principles of co-development, co-financing, and mutual benefits, making full use of our complementary strengths and expanding the role of our institution as a bank of developers."

The United Nations World Food Programme is the world’s largest humanitarian organisation, saving lives in emergencies, building prosperity. IsDB will be working in collaboration with WFP to support a sustainable future for those recovering from conflict and natural disasters.

David Beasley said: “This is an exciting moment. The first agreement between the World Food Programme and the Islamic Development Bank showcases our joint commitment to help member countries achieve their development goals. We are joining forces to kick-start progress on the nutrition and food security agenda and pioneer new ways of financing for development.”