ISLAMABAD: The Islamic Development Bank (IsDB) will assist member states in their efforts to ensure food security by developing “resilient and climate-smart agriculture”, said a press release issued on Wednesday.
Dr Muhammad Al Jasser, the IsDB president, welcomed a decision by the bank’s Arab Coordination Group (ACG) to allocate $10 billion for ensuring food security in all member countries.
“The Islamic Bank group has launched an extensive programme to develop agriculture and food security portfolio,” the press release said.
The group set aside 8.23 billion dollars for the purpose last year. It has so far invested more than $20 billion in agriculture and food security and is working on a plan to help member states in dire need of aid amidst a worldwide shortage of essential commodities, IsDB president said.
He referred to estimates made by the United Nations that the number of severely food-insecure people had doubled in just two years, from 135 million pre-pandemic to 276m today.
Published in Dawn, June 23rd, 2022