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UAE pledges $50 million to Lives and Livelihoods Fund 2.0 initiative

Wed 24 Apr 2024    
| < 1 min read

Abu Dhabi: The UAE pledges US$50 million to Lives and Livelihoods Fund 2.0, a key initiative supporting IsDB member countries in sustainable development. LLF 2.0 targets poverty, food insecurity, and poor health, aiming to achieve 10 out of 17 SDGs across 32 nations.

Administered by ADFD, this funding adds to the UAE’s previous US$50 million contribution since LLF’s inception in 2016. The announcement was made during the AVPN Global Conference 2024 by H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, underlining the UAE’s commitment to global upliftment.

Sheikh Theyab stated, “Under President Sheikh Mohamed bin Zayed Al Nahyan’s leadership, we’re devoted to sustainable development, aiding countries to thrive. Collaboration is key to progress.” LLF, founded in 2016, combines grants and IsDB lending to provide concessional finance, uplifting vulnerable communities.

Also read: Green parks significantly reduce urban temperature in Abu Dhabi

Mohamed Saif Al Suwaidi, ADFD Director-General, highlighted LLF 2.0’s focus on climate-smart agriculture, healthcare, and infrastructure. The first phase benefitted 22 countries, aiding smallholder farmers and providing healthcare to millions.

LLF 2.0, launched in May 2023, prioritizes climate adaptation and women’s empowerment, acknowledging their impact on vulnerable groups. Dr. Muhammad Al Jasser, IsDB President, expressed gratitude for UAE’s support, emphasizing collaboration’s power in achieving socio-economic development.

Dr. Al Jasser stressed LLF‘s role in empowering women and children to escape poverty, aiming for even greater success with renewed commitments. The partnership aims to tackle socio-economic challenges, advancing development goals collectively.

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