JEDDAH - The Lives and Livelihoods Fund (LLF), the region’s largest multilateral development initiative of its kind, has successfully maintained its pipeline of development projects since the onset of the COVID-19 pandemic, it revealed today as part of an operational update for 2021.

During the first half of 2021, the Fund has continued to make progress on its 32 operations approved over the past five years and currently undergoing implementation across 21 member countries of the Islamic Development Bank (IsDB).

The Fund – which comprises the Islamic Development Bank (IsDB), Abu Dhabi Fund for Development, King Salman Humanitarian Aid and Relief Centre, Qatar Fund for Development, UK Foreign, Commonwealth & Development Office, Bill & Melinda Gates Foundation, and the Islamic Solidarity Fund for Development, aims to break down the barriers that prevent individuals, organisations and governments in the lowest income countries from obtaining the resources they need to lift people out of poverty.

To date, it has approved more than US$1.34 billion in funding targeting health, agriculture, and basic infrastructure where support is needed most, creating sustainable change for good for millions of world’s most disadvantaged people.

Dr. Waleed Ahmad J. Addas, Head of Lives and Livelihoods Fund, said: "Our resolve to drive sustainable development has only become stronger in the face of the unprecedented challenges created by the coronavirus pandemic. In times of crisis, inequality grows and vulnerable communities can be left behind; by understanding this reality, the LLF adapted its projects for resilience against COVID-19 without compromising long-term development goals in health, agriculture, and basic infrastructure.'' "We have a strong ecosystem in place, from the innovative funding mechanism itself to our committed team of donors and implementing agencies, and everyone involved in this tremendous effort is extremely proud of how the LLF is helping to make the world a more equitable and sustainable place. "We are seeing excellent progress on the ground and expect the momentum on projects to be maintained going forward," he added.

 

© Copyright Emirates News Agency (WAM) 2021.