The program aims to enhance access to financial resources, training and skills development of IDB Group member countries in order to improve the livelihoods of people under poverty line in the OIC member countries. It provides the economically active poor individuals with a suitable and sustained access to Islamic microfinance products to help them build their own assets and to graduate from dependency to self-dependency. The program reinforces and adds value to the conventional microfinance industry by promoting Sharia-compatible products and services.
Islamic Solidarity Fund for Development (ISFD)
The Fund is dedicated to reducing poverty in IDB Group member countries by promoting pro-poor growth, emphasizing human development, especially improvements in health care and education, and providing financial support to enhance the productive capacity and sustainable means of income for the poor, including financing employment opportunities, providing market outlets especially for the rural poor and improving basic rural and pre-urban infrastructure.
Jeddah Declaration on Food Security
In 1429H, the IDB Group adopted the Jeddah Declaration in reaction to the global food crisis, which severely affected most of the IDB Group member countries. In the Declaration, the IDB Group committed a financing package spanning a period of five years to assist the affected member countries in ensuring food security and revitalizing the agricultural sector.
IDB – Bill & Melinda Gates Foundation’s Buy-Down Facility
The initiative aims to reduce the cost of financing for developing member countries in social sector by establishing innovative co-financing mechanisms (buy-down facility). The IDB Group and the Bill and Melinda Gates Foundation have established a Buy-Down Facility that will enable the IDB Group to deploy financing to fight poverty in low-income member countries. The Gates Foundation will contribute funds which will be deployed alongside IDB’s own financing to completely offset the cost of financing that countries would otherwise incur. This “buy-down” process will provide premium-free market resources to low-income countries.
Special Assistance Programs
The Special Assistance Program aims to assist Muslim communities in non-member countries. It helps in developing and strengthening institutions involved in education social and health services to improve wellbeing of the masses and preserve their Islamic and cultural identity. It also aims at alleviating the suffering of communities afflicted by natural disasters or conflicts in both member and non-member countries.
With the motto of ‘Developing the Ummah Worldwide’, the IDB Group has been providing and implementing its scholarship programs as following:
This Program was launched in 1983 to enable Muslim students from the Muslim communities in non-member countries to undertake undergraduate studies in medicine, engineering, agriculture and other related fields mainly in their own countries.
This Program began in 1992 for advanced studies and/or research (3-year PhD and 6-12-month Post-Doctorate) in selected applied science and high technology areas deemed necessary for the development of the member countries.