World Food Programme and Islamic Development Bank embark on a strategic partnership
WFP’s Executive Director David Beasley and Dr. Bandar Hajjar, President of the IsDB Group, signed the MoU on the side-lines of the World Economic Forum in Davos, Switzerland.
“This is an exciting moment. The first agreement between the World Food Programme and the Islamic Development Bank showcases our joint commitment to help member countries achieve their development goals. We are joining forces to kick-start progress on the nutrition and food security agenda and pioneer new ways of financing for development,” Beasley said during the signing ceremony.
“This memorandum reflects WFP’s and IsDB’s commitment to cooperate on innovative, high-impact food security and nutrition projects in our member countries. It is based on principles of co-development, co-financing, and mutual benefits, making full use of our complementary strengths and expanding the role of our institution as a bank of developers,” Dr. Bandar Hajjar stated.
According to the MoU, the two sides will work to identify co-financing and, alternative financing mechanisms, along with cooperation opportunities for programs and projects in humanitarian and development settings, particularly in the areas of food security, nutrition, agriculture, rural development, and human capital and institutional development.
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The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies, building prosperity and supporting a sustainable future for people recovering from conflict, natural disasters and the impact of climate change.
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About the IsDB
The Islamic Development Bank (IsDB) is a multilateral development bank that has been working for over 40 years to improve the lives of the communities it serves by delivering impact at scale. We bring together 57-member countries across four continents, touching the lives of 1 in 5 of the world’s population. The IsDB is headquartered in Jeddah, Saudi Arabia. Our mission is to equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential.
For more information about the IsDB, please visit: www.isdb.org
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