fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Banking Islamic

Islamic Development Bank (IsDB) announces new USD10.54 Billion package to tackle global food security crisis

Islamic Development Bank’s total finance support for food security is USD20.6 Billion

Sunil Bolar by Sunil Bolar
August 1, 2022
in Islamic, The Global Economics, Top Stories
Reading Time: 2 mins read
0
Islamic Development Bank (IsDB) announces new USD10.54 Billion package to tackle global food security crisis

Islamic Development Bank (IsDB) announces new USD10.54 Billion package to tackle global food security crisis

29
SHARES
162
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

The Islamic Development Bank (ISDB) has endorsed a comprehensive Food Security Response Program (FSRP) package worth USD10.54 billion in an effort to help member countries address the annoying food crisis. The package will also scale up the continued efforts of the Group to strengthen members’ resilience to any future food security shocks. 

The FSRP package was approved after an extraordinary joint meeting between the IsDB Board of Executive Directors, Board of Directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Board of Directors of the Islamic Solidarity Fund for Development (ISFD). 

ISDB to finance member countries

As part of the comprehensive package that was approved, IsDB is slated to contribute USD5.7 billion in financing to member countries. This financing will include new approvals worth USD4 Billion, and disbursements for existing packages worth USD1.7 Billion.

The financing package will involve contributions by IsDB Group entities, which include USD4.5 Billion in trade financing from International Islamic Trade Finance Coorporation (ITFC); USD269 million in private sector development from the Islamic Corporation for Development of the Private Sector (ICD); Loans, grants and capital resources worth USD75 million from ISFD and USD500 million in political and credit insurance coverage from ICIEC. These contributions will be made as part of the Group’s One Group – One Goal approach.

The Islamic Development Bank Institute (IsDBi) will supplement the financial package of ISDB by providing analytics, critical data and evidence-based support to enhance effective and impactful decisions.

The program will be catalysed by an immediate financing package of USD3.2 billion to enable short term interventions by providing food and agricultural supply, and social protection and livelihood support to vulnerable populations.

The main focus of the financing program worth USD7.3 billion will be spread over three years, and will develop unique interventions that will address root causes and structural weaknesses of food insecurity of member states.

These interventions will include addressing rural poverty, low productivity, climate change and low resilience of regional and national agricultural and food systems. The interventions will include six key initiatives, which will focus on building resilience to climate change, smallholders productivity and market access, food and input value chains, rural livelihood support, livestock and fisheries development and building robust food supply systems.

 

Via: short URL
Tags: food securityIsDBIslamic banking
Sunil Bolar

Sunil Bolar

Sunil is a creative person who combines his love for writing with tech and business.

Related Posts

Visa and Nymcard supports British duo in launching the world’s first Money Management app, Edfundo for families
Digital

Visa and Nymcard supports British duo in launching the world’s first new Money Management app, Edfundo for families in 2022

by Ritu M R
August 17, 2022
Abu Dhabi Airports inks a deal with ICP to enhance service quality in a new 2022 initiative
Mergers & Acquisitions

Abu Dhabi Airports inks a deal with ICP to enhance service quality in a new 2022 initiative

by Ritu M R
August 17, 2022
Saudi Wealth Fund, PIF acquires USD 7 billion US stocks in Amazon, BlackRock and Meta Platforms
Funds

Saudi Wealth Fund, PIF acquires USD 7 billion US stocks in Amazon, BlackRock and Meta Platforms

by Ritu M R
August 16, 2022
Penspen achieves USD 48 million worth of new contracts in Q2 2022
Energy

Penspen achieves USD 48 million worth of new contracts in Q2 2022

by Ritu M R
August 16, 2022
HSBC expands global securities services in Abu Dhabi Global Market (ADGM) in 2022
Digital

HSBC expands new global securities services in Abu Dhabi Global Market (ADGM)

by Ritu M R
August 16, 2022
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Visa and Nymcard supports British duo in launching the world’s first Money Management app, Edfundo for families

Visa and Nymcard supports British duo in launching the world’s first new Money Management app, Edfundo for families in 2022

August 17, 2022
Abu Dhabi Airports inks a deal with ICP to enhance service quality in a new 2022 initiative

Abu Dhabi Airports inks a deal with ICP to enhance service quality in a new 2022 initiative

August 17, 2022
Saudi Wealth Fund, PIF acquires USD 7 billion US stocks in Amazon, BlackRock and Meta Platforms

Saudi Wealth Fund, PIF acquires USD 7 billion US stocks in Amazon, BlackRock and Meta Platforms

August 16, 2022
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version