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UAE announces US$50 million commitment to the Lives and Livelihoods Fund 2.0 to advance sustainable economic development in IsDB member countries

23, April 2024 Latest updates

Abu Dhabi, UAE. April 23, 2023

The UAE has committed US$50 million to the second phase of the Lives and Livelihoods Fund 2.0 (LLF 2.0), a major multi-donor development initiative that supports Islamic Development Bank (IsDB) member countries in building sustainable pathways to lift millions out of poverty

The funding will be deployed by LLF 2.0 in support of critical projects in health and infectious diseases, agriculture, and social infrastructure in low and lower-middle income IsDB member countries. In addition to targeting root causes of poverty, food insecurity, and poor health outcomes, the investments aim to support 32 member countries to achieve 10 of the 17 Sustainable Development Goals (SDGs).

The financing will be administered by the Abu Dhabi Fund for Development (ADFD) and is in addition to the US$50 million the UAE has contributed to the LLF since its launch in 2016.

The announcement was made today during the AVPN Global Conference 2024 in Abu Dhabi, in the presence of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the International Humanitarian and Philanthropic Council.

Addressing the commitment, His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan said the funding emphasized the UAE’s commitment to working with partners to uplift countries and communities worldwide.

He said: “Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, we are committed to supporting sustainable development solutions that save and improve lives, drive equitable economic growth, and enable countries to thrive. Through this partnership, the UAE furthers its efforts to alleviate poverty and to support countries in building resilient futures.”

He continued: “This contribution also reflects the UAE’s conviction that the greatest progress comes through like-minded collaboration. With the guidance of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE, Minister of Presidential Affairs and Chairman of ADFD’s Board of Directors, we look forward to working closely with our partners in the Lives and Livelihoods Fund to advance global development goals.”

Established in 2016, LLF is a joint vision of the Islamic Development Bank, and 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.

LLF is the largest multilateral fund of its kind in the Middle East, focused on breaking down the barriers that prevent individuals, organizations, and governments in the lowest-income countries from obtaining the resources they need to lift themselves out of poverty.

To achieve this, the Fund utilizes an innovative financing model that combines the grants of its donors with the lending capital of IsDB to provide concessional finance for much-needed development projects. This contributes to sustainable economic growth within countries, in turn helping to lift the most vulnerable out of poverty.

H.E. Mohamed Saif Al Suwaidi, Director General, Abu Dhabi Fund for Development, said: “LLF’s ongoing efforts to promote global wellbeing and stability in IsDB member countries reflects the UAE leadership’s commitment to supporting efforts to promote global prosperity and equality. “Through LLF 2.0, we will focus on climate-smart agriculture, primary care, underfunded social services, and infrastructure investment. Our blended finance model increases access to concessional financing to bridge investment gaps in meeting Sustainable Development Goals. 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 US$1.4 billion across 22 IsDB member countries, enabling more than 3 million smallholder farmers to improve their productivity and livelihoods, providing access to quality healthcare for 12.5 million women and children, and is set to provide over 7.5 million people with better water and sanitation facilities.

LLF 2.0 will put greater emphasis on climate adaptation efforts and the empowerment of women and girls, in recognition that climate change and gender inequality disproportionately impact the most vulnerable.

H.E. Dr Muhammad Al Jasser, President of IsDB, said: “We are deeply grateful for the UAE's longstanding support. Their initial role in establishing the LLF in 2016, combined with their continued generosity, has been instrumental in fostering human development in our poorest member countries.”

Dr Al Jasser continued: “The LLF provides vital support for vulnerable groups, particularly women and children, empowering them to escape poverty and reach their full potential. This renewed commitment will allow us to mobilize even more resources and build upon the LLF's proven success stories. Together, under this unique partnership, we can make significant strides towards achieving the critical goals of socio-economic development.”

Looking forward, Dr Al Jasser stressed the power of collaboration. “This renewed pledge strengthens the IsDB's ambitious development plans," he concluded. "By working together, we can overcome rising challenges and achieve the noble goals of socio-economic development.”

LLF 2.0 was launched in May 2023. At launch, the Islamic Solidarity Fund for Development committed US$150 million to the Fund, while the Bill & Melinda Gates Foundation announced its commitment to pledge 20% of the total granted by donors to the LLF, up to US$100 million.

**ENDS **


About Abu Dhabi Fund for Development (ADFD)

Abu Dhabi Fund for Development (ADFD) is a leading national entity for economic development aid owned by the Abu Dhabi government. Established in 1971, it aims to help emerging countries by providing concessionary loans to finance sustainable development projects as well as administer long-term investments and direct contributions.

In addition to managing development grants offered by the Abu Dhabi government, ADFD has adopted a policy of supporting the national economy and financing UAE private-sector investments. Since its inception, ADFD has marked developmental milestones in 106 developing countries. Spanning the last 35 years, the Fund's development projects and investments, valued at AED216 billion have helped the international community achieve sustainable economic growth, as well as drive the implementation of the United Nations’ Sustainable Development Goals (SDGs).

About the Lives and Livelihoods Fund

The Lives and Livelihoods Fund launched in 2016 as a joint vision of the Islamic Development Bank (IsDB), the Abu Dhabi Fund for Development, the Bill and Melinda Gates Foundation, the Islamic Development Bank, the Islamic Solidarity Fund for Development, the King Salman Humanitarian Aid and Relief Centre, and the Qatar Foundation Fund for Development. It has since played an active role in breaking down the barriers that prevent individuals, organizations, and governments in the lowest-income countries from obtaining the resources they need to lift themselves out of poverty.

The Fund has identified three key areas where it can make a sustainable impact for millions of people using its innovative approach to funding.

  • Health: LLF has funded 15 projects that strengthen primary healthcare systems, combat infectious diseases including malaria and polio, and support routine immunization. Its healthcare funding contribution has amounted to US$681 million.
  • Agriculture: Food security is a key challenge in the countries the Fund supports. LLF has focused its efforts on helping smallholder farmers increase their production of livestock and staple crops. The Fund has to date supported 17 projects across 13 countries.
  • Basic Infrastructure: The realization that the dearth of infrastructure across beneficiary markets has prevented the most vulnerable communities from connecting to resources has driven the Fund’s focus on bringing power, sanitation, and financial inclusion to rural areas.

The Fund currently supports 37 projects in 22 countries in Asia, MENA and Africa and is contributing to meeting 9 of the 17 SDGs. To date, LLF has committed a total of US$1.43 billion to support governments in IsDB member countries to meet their national priorities.


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