UAE commits $50m to development initiative 

The UAE has committed $50 million to the second phase of the Lives and Livelihoods Fund 2.0 (LLF 2.0), a multi-donor development initiative supporting sustainable socio-economic development in Islamic Development Bank’s (IsDB) 57 member countries.

The funding will be used by LLF 2.0 to support critical projects in health and infectious diseases, agriculture, and social infrastructure in low and lower-middle income IsDB member countries. 

The funding also aims to support 32 member countries in achieving 10 of the 17 sustainable development goals.

The new financing will be administered by the Abu Dhabi Fund for Development, in addition to $50 million the UAE has contributed to the LLF since its launch in 2016.

“Through LLF 2.0, we will focus on climate-smart agriculture, primary care, underfunded social services, and infrastructure investment,” Mohamed Saif Al Suwaidi, director general for Abu Dhabi Fund for Development said. 

“LLF 2.0 will also optimize its anti-poverty focus, setting grant portions to enhance stability and transparency.”

The Fund in its first phase invested over $1.4 billion across 22 IsDB member countries, enabling more than three million smallholder farmers to improve their livelihoods, and providing 12.5 million women and children access to quality healthcare.

It is also expected to provide over 7.5 million people with better water and sanitation facilities.

LLF is a joint initiative of the Islamic Development Bank, the Abu Dhabi Fund for Development, the Bill & Melinda Gates Foundation, the Islamic Solidarity Fund for Development, the King Salman Relief Humanitarian Aid and Relief Centre, and the Qatar Fund for Development.