The Islamic Development Bank and the International Fund for Agricultural Development have signed a cooperation and co-financing agreement aimed at mobilizing up to USD 750 million for sustainable agriculture, food systems and rural development across their common member countries. The partnership will support rural businesses, employment, incomes and food security, with an emphasis on investment at the first stage of food systems. A joint action plan will cover agribusiness value chains, market access, rural finance and financial inclusion, climate adaptation, natural resource management and water access. The agreement also provides for expanded private-sector operations supporting agribusinesses and rural small and medium-sized enterprises, drawing on IsDB Group capabilities in development and trade finance, investment and risk mitigation. The initiative expands a partnership dating to 1980. The institutions have previously co-financed 29 projects with a combined value of about USD 1.45 billion.
Islamic Development Bank and International Fund for Agricultural Development target USD 750 million in agricultural co-financing
The Islamic Development Bank and the International Fund for Agricultural Development aim to mobilize up to USD 750 million in co-financing for sustainable agriculture, food systems and rural development. A joint action plan will support areas including agribusiness value chains, rural finance, climate adaptation and expanded private-sector investment.