| Type | Voluntary commitment by other stakeholders |
|---|---|
| Organisation | Bill and Melinda Gates Foundation and Islamic Development Bank |
| Scope | Global |
| Themes | Agriculture and food security; Debt and debt sustainability; Domestic public resources; Infrastructure; International public finance; Social sectors |
Description
The Lives and Livelihoods Fund (LLF) is an innovative blended facility aimed at fighting poverty in Islamic Development Bank’s member countries. It will provide up to $2.5 billion over five years of concessional loans aimed at saving lives and improving people’s livelihoods. The Fund will blend $500 million of grant funding together with $2 billion of IsDB’s ordinary capital resources enabling IsDB to extend more concessional loans in health, agriculture and basic infrastructure services for IsDB’s lower income and lower-middle income member countries. The Gates Foundation has already agreed to contribute $100 million (or up to 20% of the $500 million total grant pool) and the IsDB has also agreed to contribute an additional $100 million in grant funding through its Islamic Solidarity Fund for Development. IsDB has made a commitment of $2bn from it’s ordinary capital to be earmarked towards the Lives and Livelihood Fund.
Partners
Islamic Development Bank
Bill and Melinda Gates Foundation
Islamic Solidarity Fund for Development
More donor partners welcome
Targets
The LLF is a powerful poverty reduction tool: it will reach to the most disenfranchised members of society in key economic and social sectors.
The fund’s projects will focus on four areas which are known to have huge impact in saving lives and improving livelihoods for the world’s poorest people through the expansion and access to essential social and infrastructure services: 1) Infectious disease control and eradication; 2) Primary healthcare, including improved maternal, neo-natal and child health; 3) Agriculture and food security, enabling the poorest people to grow more staple products, feed their families and earn a basic living; 4) Basic infrastructure, including: alternative energy and off-grid rural power generation and distribution; small scale water and sanitation projects for unconnected communities; and digital payment systems using mobile technology.
Indicators
Leverage of donor funding: multiplies donor funding by blending grant money with capital, ensuring that beneficiary countries maintain ownership and responsibility for the development process. Every dollar of donor grant money will release $5 in funding for projects: that means that a $50 million grant contribution will release $250 million to help the poor.
Improving livelihoods: Lifting the poor out of poverty through projects that secure a basic standard of living that all lives should equally have, i.e. improving sanitation, access to clean water, electricity, affordable and accessible health care, improving agricultural productivity and yields.
Saving lives: Targeting projects that have a known impact on reducing child mortality of under 5s, stopping stunting and malnutrition, targeting the more preventable infectious diseases, and providing better neo-natal care.
Solidarity between donors: The major donors of the Muslim world, both public and private, coming together in a coordinated way, to agree on the priorities and share their experiences
Expending Partnership: International partners coming to the table with their resources, as well as expertise in health, agriculture, infrastructure and other technical fields.
Improving Governance: A powerful mechanism for convening partners, approving projects and monitoring implementation across the Muslim world.
Resources
The Gates Foundation has already agreed to contribute $100 million (or up to 20% of the $500 million total grant pool) and the IsDB has also agreed to contribute an additional $100 million in grant funding. The Gates Foundation and IsDB are seeking further partnerships to raised $300 million over 5 years – while specifically aiming to raise a further $60 million to launch the Fund first year of operations. Donors are encouraged to join the Fund at this early stage. All donor sources are welcome (e.g., sovereign donors, private philanthropists, socially minded corporations) and those contributing over 10% of the grant pool ($50 million or more) will serve on the LLF Impact Committee, which will vet projects eligible for LLF funding.
Timeframe
Jan 2016-Jan 2021