Qatar contributes $50 million to Bill Gates’ Shariah-compliant fund

Doha, (IINA) - Qatar Development Fund signed a $50 million grant agreement to an initiative of the Bill & Melinda Gates Foundation in Doha, Arabian Business reported Thursday.
The new funding is aimed at helping the Lives and Livelihoods Fund (LLF), a $2.5 billion Shariah-compliant fund founded last year by the Islamic Development Bank (IDB) and the Bill & Melinda Gates Foundation, to implement five-year-long poverty-focused programs in some of the IDB member countries.
The grant agreement was signed by Khalifa Al-Kuwari, general director of the Qatar Development Fund, Dr. Ahmad Ali, president of the Islamic Development Bank, and Bill Gates, co-chairman of the Bill & Melinda Gates Foundation.
“We aim to reach the 30 members least developed countries in the Organization of Islamic Cooperation (OIC) in Asia and Africa”, Al-Kuwari said, adding that LLF is meant to develop primary healthcare, disease control, smallholder agriculture and basic rural infrastructure the IDB’s least-wealthy 30 members.
AG/IINA

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