UAE Commits $50 Million to Multilateral Fund to Lift Millions Out of Poverty

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The UAE has pledged $50 million to support the second phase of the Lives and Livelihoods
Fund 2.0 (LLF 2.0), a major multilateral initiative administered by the Islamic Development Bank aimed at sustainable development in low and middle-income countries.




Announcing the contribution at the AVPN Global Conference 2024 in Abu Dhabi, Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the International Humanitarian and Philanthropic Council, underscored the UAE's commitment to working with partners in uplifting communities worldwide.

LLF 2.0 is focused on investing in critical sectors like health, agriculture and social infrastructure to achieve 10 of the UN's Sustainable Development Goals. The $50 million will be channeled towards climate-smart agriculture, primary healthcare, underfunded social services and infrastructure projects across 32 IsDB member nations.

Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development, which will disburse the funds, said the blended finance model combines donor grants and IsDB lending to provide concessional financing for gap-filling development activities.

Since its founding in 2016 with initial UAE support, LLF has invested over $1.4 billion in 22 countries, enabling over 3 million farmers and providing healthcare access to 12.5 million women and children. LLF 2.0 aims to continue breaking barriers to resources for poverty reduction in member states.

The contribution builds on the UAE's sustained support for sustainable humanitarian initiatives that save lives through dignified interventions and drive equitable economic growth worldwide.

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