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The Islamic Development Bank (IsDB) and King Salman Humanitarian Aid and Relief Centre (KSrelief) signed a Donor Contribution Agreement worth US$ 100 million to advance sustainable development in middle- and low-income member countries
The five-year agreement was signed by IsDB President, Dr. Muhammad Al Jasser and KSrelief Supervisor General, Dr. Abdullah Al Rabeeah in Riyadh On the margins of the 4th Riyadh International Humanitarian Forum.
The funds have been allocated for the second phase of the Lives and Livelihoods Fund (LLF 2.0).
"LLF 2.0 will strengthen the member countries’ capacity for high-impact and future-ready development, aligned with their needs and SDG-driven priorities. Forms of collaboration will include direct financial and technical assistance for effective project implementation to achieve meaningful results at scale," - IsDB's press-release said.
The donor investments provide concessional financing to countries for scaling up primary health care systems, improving livelihoods and productivity of smallholder farmers, and building the blocks of social infrastructure. LLF’s multisector initiatives are also designed to address cross-cutting issues such as climate adaptation, and women and youth empowerment development.
The Lives and Livelihoods Fund is a US$ 2.5 billion development initiative launched in 2016 and funded by an unprecedented global coalition of the Abu Dhabi Fund for Development (ADFD), Gates Foundation, the Islamic Development Bank, the Islamic Solidarity Fund for Development (ISFD), King Salman Humanitarian Aid and Relief Centre, and the Qatar Fund for Development (QFFD).
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
Kazakhstan's Ministry of Transport and Afghanistan's Ministry of Public Works have reached an agreement on the construction of a new railway line to connect Central Asia and South Asia, which will increase the efficiency of the North-South corridor.
Two of China’s biggest electric-vehicle makers may have to return a combined 373 million yuan (about $53 million) in state aid after a government audit said nearly 22,000 cars sold up to 2020 should never have qualified for clean-energy incentives.
Uzbekistan and the State of Eritrea signed a Joint Communiqué on the establishment of diplomatic relations through their respective UN Missions.
China said it is ready to "continuously" boost strategic coordination with Moscow. Chinese Foreign Minister Wang Yi told Russian counterpart Sergey Lavrov in Kuala Lumpur on Thursday that Beijing is prepared to help safeguard both countries’ security and development interests.
The United States has imposed sanctions on 22 entities linked to a transnational network engaged in illicit oil trade on behalf of the Iranian regime.
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