IDB, Bill Gates and Donors to Fund US$2.5 Billion Poverty Program

Maputo, Mozambique, 10.06.2015- The Islamic Development Bank (IDB) and
the Bill & Melinda Gates Foundation have formally launched a US$500
million grant facility, to be known as The Lives & Livelihoods Fund,
to address poverty and diseases in IDB member countries.

Through this innovative facility, IDB, the Gates Foundation and other
donors will support over five years poverty-focused programs worth
US$2.5 billion in primary healthcare, disease control, smallholder
agriculture and basic rural infrastructure in IDB member countries,
especially in low
income countries.

The announcement was made by the IDB Group Chairman, Dr. Ahmad Mohamed
Ali and Mr. Bill Gates, Co-Chair of the Bill & Melinda Gates
Foundation, at a high level event during the 40th Annual Meeting of
the IDB Group held in Maputo, Mozambique.

Dr. Ali stated that the US$500 million from The Lives & Livelihoods
Fund will be deployed alongside US$2 billion from IDB to scale-up
support to pro-poor programs in IDB member countries over 5 years. He
also announced the US$100 million grant contribution of IDB
shareholders to the Fund, through the Islamic Solidarity Fund for
Development (ISFD), the poverty alleviation arm of IDB.

Dr. Ali thanked Mr. Bill Gates for his personal commitment and
unequivocal support, and for agreeing to contribute up to US$100
million to the
Fund. Dr. Ali and Mr. Gates called on donors to support the Fund by
contributing the remaining US$300 million of grant funding over five

“We hope to be able to commence operations in early 2016", Dr. Ali
told the audience, which included a number of finance ministers and
senior officials from IDB member countries, as well as several high
level representatives from leading international organizations and
countries, including the World Bank, African Union and European Union.

Mr. Bill Gates, for his part, launched an emotional appeal to donors
saying “we now have a once-in-a-lifetime opportunity to improve the
quality of life for each of the nearly 2 billion people living in the
bank’s member countries. It is an honor to join you in this historic