ISDF- International Solidarity Fund for Development

ISDF- International Solidarity Fund for Development

Background:

The decision to establish the Islamic Solidarity Fund for Development (ISFD) was reached by the Third Extraordinary Session of the OIC Summit held in Makkah Al-Mukarramah on 05-06 Dhul Qadah, 1426H (07-08 December, 2005). The Summit decided to establish a special fund within the IDB with a view to: 
(a) reduce poverty,
(b) build the productive capacities of member countries,
(c) reduce illiteracy, and
(d) eradicate diseases and epidemics, particularly Malaria, Tuberculosis (TB) and HIV/AIDS.

Official Launching:

The ISFD was officially launched during the 32nd Meeting of the IDB Board of Governors (BOG), held on 30 May, 2007 in Dakar, Senegal.

Salient Features:

The principal objective of operations financed under the ISFD is to reduce poverty. Therefore, projects and programmes undertaken by the ISFD are low-cost, high-impact, innovative, result-oriented, and mainly community driven. ISFD interventions focus on the poorest of the poor, enabling them in the area of employment and income generating activities, breaking the circle of poverty in which they are trapped, and on sustaining the interventions in order to achieve long-term results

Resource Mobilization:

The ISFD capital commitment currently stands at US$ 2.661 billion, with US$ 1.661 billion being committed by 42 member countries and US$ 1.00 billion by IDB. In terms of paid-up capital, the cumulative total currently stands at US$ 1.639 billion,

Way Forward

1. Intensifying High-level Resource Mobilization Efforts
2. Engaging with the private sector under their Corporate Social Responsibility (CSR) initiatives and approaching high net-worth individuals, institutions and philanthropists within and outside our  member countries to solicit contributions to the Fund
3. Rolling-out a High-visibility Media Campaign
4. Developing and consolidating Strategic Partnerships with Regional and International Players
5. Building the internal capacity of the Fund.

Website:
http://www.isdb.org