{"id":462012,"date":"2018-09-02T23:14:34","date_gmt":"2018-09-02T22:14:34","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=462012"},"modified":"2018-09-02T23:14:34","modified_gmt":"2018-09-02T22:14:34","slug":"lives-and-livelihoods-fund-a-partnership-helping-to-alleviate-global-poverty","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/09\/02\/lives-and-livelihoods-fund-a-partnership-helping-to-alleviate-global-poverty\/","title":{"rendered":"Lives and Livelihoods Fund \u2013 A Partnership helping to alleviate global poverty"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p><span class=\"s3\">More than 1 billion people live in absolute poverty worldwide and are unable to afford the basics of food, safe drinking water, health, education and housing. <\/span><span class=\"s3\">A<\/span><span class=\"s3\">round 400 million <\/span><span class=\"s3\">of these <\/span><span class=\"s3\">live in countries that are member nations of the Islamic Development Bank (<\/span><span class=\"s3\">IsDB<\/span><span class=\"s3\">). That\u2019s at least 400 million people who live on less than US$1.90 a day.<\/span><!--more--><\/p>\n<p><span class=\"s4\">The Islamic Solidarity Fund for Development<\/span><span class=\"s4\"> (ISFD) along with the Abu Dhabi Fund for Development (ADFD), the Bill and Melinda Gates Foundation (BMGF), the King Salman Humanitarian Aid and Relief Center (<\/span><span class=\"s4\">KSrelief<\/span><span class=\"s4\">), the<\/span><span class=\"s4\"> Qatar<\/span><span class=\"s4\"> Fund for Development (QFFD)<\/span><span class=\"s4\">,<\/span> <span class=\"s4\">and <\/span><span class=\"s4\">the Islamic Development Bank<\/span><span class=\"s4\"> (<\/span><span class=\"s4\">IsDB<\/span><span class=\"s4\">) have collaboratively formed the (up to) US $2.5 Billion <\/span><span class=\"s4\">Lives and Livelihoods Fund (LLF)<\/span><span class=\"s4\">. <\/span><\/p>\n<p><span class=\"s3\">T<\/span><span class=\"s3\">he <\/span><span class=\"s3\">innovative f<\/span><span class=\"s3\">und <\/span><span class=\"s3\">blends<\/span> <span class=\"s3\">donor <\/span><span class=\"s3\">grants with traditional market-based funding (or lending) supplied by the <\/span><span class=\"s3\">IsDB<\/span><span class=\"s3\"> to provide sizeable concessional financing resources for socioeconomic projects in the <\/span><span class=\"s3\">33 least developed countries in the <\/span><span class=\"s3\">IsDB\u2019s<\/span><span class=\"s3\">membership<\/span><span class=\"s3\">. <\/span><span class=\"s4\">\u00a0<\/span><\/p>\n<p><span class=\"s3\">T<\/span><span class=\"s3\">he LLF\u2019s Impact Committee<\/span><span class=\"s3\"> (IC) <\/span><span class=\"s3\">ensures that the <\/span><span class=\"s3\">f<\/span><span class=\"s3\">und finances health, agriculture, and basic infrastructure projects <\/span><span class=\"s4\">help<\/span><span class=\"s4\">ing<\/span><span class=\"s4\"> the poorest to lead healthy and productive lives.<\/span> <span class=\"s3\">The <\/span><span class=\"s3\">IC reviews all projects according to the LLF selection criteria and ensures they have maximum <\/span><span class=\"s3\">Relevance, Readiness and <\/span><span class=\"s3\">are geared for high quality <\/span><span class=\"s3\">Results.<\/span><span class=\"s3\"> T<\/span><span class=\"s3\">he <\/span><span class=\"s3\">f<\/span><span class=\"s3\">und\u2019s Project Preparation Facility<\/span><span class=\"s3\"> (PPF)<\/span><span class=\"s3\">further supports<\/span><span class=\"s3\"> member countries <\/span><span class=\"s3\">to <\/span><span class=\"s3\">shape and design <\/span><span class=\"s3\">their projects for<\/span> <span class=\"s3\">maximum <\/span><span class=\"s3\">impact<\/span><span class=\"s3\">..<\/span><\/p>\n<p><span class=\"s4\">So far, <\/span><span class=\"s4\">US<\/span><span class=\"s4\">$400 million in grants have been committed by the <\/span><span class=\"s4\">ADFD<\/span><span class=\"s4\"> (<\/span><span class=\"s4\">US<\/span><span class=\"s4\">$50 million<\/span><span class=\"s4\">, the BMGF<\/span><span class=\"s4\">(up to <\/span><span class=\"s4\">US<\/span><span class=\"s4\">$100 million), the <\/span><span class=\"s4\">ISFD<\/span><span class=\"s4\"> (<\/span><span class=\"s4\">US<\/span><span class=\"s4\">$100 million), the <\/span><span class=\"s4\">KSrelief<\/span><span class=\"s4\"> (<\/span><span class=\"s4\">US<\/span><span class=\"s4\">$100 million), <\/span><span class=\"s4\">and <\/span><span class=\"s4\">the <\/span><span class=\"s4\">QFFD<\/span><span class=\"s4\"> (<\/span><span class=\"s4\">US<\/span><span class=\"s4\">$50 million), <\/span><span class=\"s4\">resulting in<\/span><span class=\"s3\"> up to US$ 1.875 billion (over 5 years) available in concessional financing to eligible countries. The <\/span><span class=\"s3\">LLF is <\/span><span class=\"s3\">currently <\/span><span class=\"s3\">delivering projects in 13 countries <\/span><span class=\"s3\">(over US$ 600 million in financing) as part of its 2016 and 2017 portfolio, across <\/span><span class=\"s3\">Sub-Saharan Africa and Central Asia.<\/span><\/p>\n<p><span class=\"s4\">Dr. Bandar Hajjar, President of the <\/span><span class=\"s4\">I<\/span><span class=\"s4\">s<\/span><span class=\"s4\">DB<\/span><span class=\"s4\">, said: \u201cThe LLF aims at helping the poorest people in the Muslim world to live healthier, more productive lives through investments in health, agriculture, and rural infrastructure. By innovatively combining grants from donors with loans from the Islamic Development Bank, we are able to leverage more funding to fight disease and poverty across the Muslim world.\u201d<\/span><\/p>\n<p><span class=\"s4\">Dr. <\/span><a name=\"_GoBack\"><\/a><span class=\"s4\">Waleed Al <\/span><span class=\"s4\">Wohaib<\/span><span class=\"s4\">, Director General of ISFD said, \u201cBeing the donor of LLF, our aim is to protect communities from the risk of preventable diseases, improving reproductive, maternal and child health, increasing access to sanitation and primary healthcare, and supporting rural development, we are empowering some of the poorest people in the world, and giving them the chance to live healthy and productive lives.\u201d<\/span><\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>More than 1 billion people live in absolute poverty worldwide and are unable to afford the basics of food, safe drinking water, health, education and housing. Around 400 million of these live in countries that are member nations of the Islamic Development Bank (IsDB). That\u2019s at least 400 million people who live on less than<\/p>\n","protected":false},"author":527180,"featured_media":462014,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12591,11996,12024],"tags":[15327,15326,14750],"class_list":{"0":"post-462012","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-feature","8":"category-finance-en","9":"category-islamic-finance-en","10":"tag-adfd","11":"tag-bill-and-melinda-gates-foundation","12":"tag-islamic-solidarity-fund","13":"post_format-post-format-aside","14":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lives and Livelihoods Fund \u2013 A Partnership helping to alleviate global poverty - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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