Abu Dhabi: The United Arab Emirates has pledged US$50 million to the Lives and Livelihoods Fund 2.0 (LLF 2.0). This initiative is part of a collaborative effort to support sustainable development in Islamic Development Bank (IsDB) member countries. The announcement was made at the AVPN Global Conference 2024 in Abu Dhabi, underlining the UAE’s ongoing dedication to combatting global poverty and advancing sustainable development.
Administered by the Abu Dhabi Fund for Development (ADFD), the contribution will be directed towards vital projects in health, agriculture, and social infrastructure across low to lower-middle-income IsDB member countries. These efforts aim to help these nations achieve 10 of the 17 Sustainable Development Goals (SDGs), addressing crucial issues like poverty, food insecurity, and poor health outcomes.
The LLF 2.0, initiated in 2016 with the UAE as a founding member, combines donor grants with IsDB’s lending capital to provide concessional finance for development projects. This innovative funding approach is designed to enhance economic growth and lift vulnerable populations out of poverty. The fund’s focus extends to climate-smart agriculture, primary care, underfunded social services, and infrastructure, promoting global well-being and stability.
Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, at the conference, emphasized the UAE’s commitment to fostering partnerships that support these goals. He highlighted the UAE’s strategy of collaborating with like-minded entities to further global development and prosperity.
Since its inception, the LLF has invested over US$1.4 billion across 22 IsDB member countries, enhancing the lives of millions by improving agriculture productivity, healthcare access, and water and sanitation facilities. The next phase, LLF 2.0, will continue to prioritize climate adaptation and gender equality, acknowledging the disproportionate impact of climate change and social inequities on vulnerable groups.
Dr. Muhammad Al Jasser, President of IsDB, expressed gratitude for the UAE’s support since the fund’s establishment, noting its crucial role in enabling socio-economic development. The renewed commitment is expected to expand the LLF’s impact, mobilizing additional resources to build on its successes and address emerging challenges through international cooperation.
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