Islamic Development Bank And Earth Institute Partner To Meet Millennium Development Goals In Rural Africa

Posted by Craig Clarke 
on Aug 13, 2013
 

JEDDAH, SAUDI ARABIA, August 13, 2013: The Islamic Development Bank (IsDB) and the Earth Institute at Columbia University formed a partnership in 2011 to work with African nations to support their efforts to end extreme poverty. The IsDB and the Earth Institute and its partner, Millennium Promise, are pleased to announce that the IsDB and its poverty reduction arm, the Islamic Solidarity Fund for Development (ISFD), have now extended more than $100 million in financing to help eight African nations combat extreme poverty, improve public health and achieve more sustainable development.

In each of these projects, host governments will partner with the IsDB, the Earth Institute and Millennium Promise to carry out the projects. The Earth Institute, led by its Millennium Development Goals Centers in East and West Africa, and Millennium Promise, will provide technical, operational and scientific guidance to the nations involved in the new initiative.

"The Islamic Development Bank is showing great and innovative leadership in addressing poverty in its member states," said Jeffrey Sachs, director of the Earth Institute.  "In these new programs, the bank is applying cutting-edge methods to the fight against poverty, hunger and disease. It is a privilege and honor to be working along with the IsDB on this bold undertaking."

The combined $104 million will finance three major programs:

  • The ISFD's new flagship Sustainable Villages Program (SVP) in Chad, Mozambique, and Sudan ($40 million)
  • Scale-ups of the Millennium Villages Project in Mali, Senegal and Uganda ($29 million)  
  • Implementation of the Drylands Initiative in Djibouti, Somalia and Uganda ($35 million)

Spearheading the financing initiative is IsDB's president,  Dr. Ahmad Mohamed Ali, who explained, "Alleviating poverty is part of the IsDB's Mission, and it will be better achieved if we cooperate with parties that have successful experience in the field. This is why IsDB, many member countries of which are among the least developed in the world, is partnering with the Earth Institute, which brings rich practical expertise that will help us ensure that our financing is effective."

Click here to go to full press release on the millennium villages website.

 
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