UAE announces $50-million pledge to major initiative that can lift millions out of poverty

UAE pledge

The United Arab Emirates (UAE) has reaffirmed its commitment to global humanitarian efforts by pledging $50 million to the Lives and Livelihoods Fund 2.0 (LLF 2.0), a major multi-donor initiative aimed at lifting millions out of poverty. This substantial contribution reflects the UAE's dedication to supporting sustainable development projects in Islamic Development Bank (IsDB) member countries, particularly those in low- and lower-middle-income brackets.

LLF 2.0 represents the second phase of the ambitious development drive initiated by the Islamic Development Bank. Through strategic investments in key sectors such as health, agriculture, and social infrastructure, LLF 2.0 aims to address the root causes of poverty and food insecurity while simultaneously advancing progress towards 10 of the 17 Sustainable Development Goals (SDGs) set by the United Nations.

Administered by the Abu Dhabi Fund for Development (ADFD), the $50 million commitment from the UAE underscores the nation's unwavering support for global humanitarian initiatives. This contribution builds upon the UAE's previous involvement with the LLF since its inception in 2016, further solidifying its role as a key player in international development efforts.

The announcement of the UAE's pledge was made during the AVPN Global Conference 2024 in Abu Dhabi, emphasizing the nation's commitment to collaborative partnerships and sustainable development solutions. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the International Humanitarian and Philanthropic Council, highlighted the UAE's dedication to uplifting communities worldwide under the visionary leadership of President Sheikh Mohamed.

LLF, established in 2016, stands as the largest multilateral fund of its kind in the Middle East, uniting various stakeholders including the Islamic Development Bank, the Bill and Melinda Gates Foundation, and other philanthropic entities. By leveraging an innovative financing model that combines grants with lending capital, LLF facilitates access to concessional finance for vital development projects, fostering sustainable economic growth and poverty alleviation.

Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development, outlined LLF 2.0's strategic priorities, which include climate-smart agriculture, primary healthcare, underfunded social services, and infrastructure investment. By addressing these critical areas, LLF 2.0 aims to optimize its impact and promote stability and transparency in development efforts.

The first phase of LLF witnessed significant achievements, with over $1.4 billion invested across 22 IsDB member countries. This investment facilitated improvements in agricultural productivity, healthcare access, and water and sanitation facilities, benefitting millions of individuals in vulnerable communities.

LLF 2.0 is poised to build upon these successes, with a heightened focus on climate adaptation and the empowerment of women and girls. Dr. Muhammad Al Jasser, President of IsDB, expressed gratitude for the UAE's enduring support, emphasizing its pivotal role in advancing human development in some of the world's most impoverished regions.

As LLF 2.0 continues to garner momentum, the collective efforts of donors, stakeholders, and partner organizations will play a pivotal role in driving meaningful change and improving the lives of millions around the globe. Through sustained collaboration and strategic investment, LLF 2.0 represents a beacon of hope for those striving to overcome the challenges of poverty and achieve sustainable development.