Islamic Development Bank provides new financing and grants

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Islamic Development Bank provides new financing and grants

Islamic Development Bank (IsDB) will provide financing of $60 million to Pakistan for the polio vaccine, including a $21 million ‘Lives and Livelihood Fund (LLF)’ grant.

Economic Affairs Division, on behalf of the government of Pakistan, signed a financing agreement with the representative of IsDB for the financing of $60 million.

This amount comprises a $39 million loan and a $21 million LLF grant by the IsDB. These funds will be utilized for polio vaccination.

Noor Ahmed, Secretary Economic Affairs Division, appreciated IsDB’s support to Pakistan for Polio Eradication Program (2019-2021). He said, “Today, we celebrate the long-standing partnership with the Islamic Development Bank. Over the years, we have received consistent support from the bank to keep up the fight for a polio-free Pakistan. We also thank partners of Lives & Livelihood Fund (LLF) for allocation of grant for this cause.” ------------------------------

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During the three phases (2013 – 2021), IsDB provided $487 million in financing to Pakistan for Polio Eradication Program. This financing has been utilized to strengthen vaccination operations, surveillance, and the procurement of vaccines, social mobilization, and communications.

The program implements high-quality vaccination campaigns that aim to reach out to children across Pakistan. These campaigns are implemented by more than 260,000 frontline health workers.

IsDB representative underlined the importance of polio vaccination to achieve the target of a polio-free country. He assured continued support of the bank for this cause by saying that IsDB leadership is committed to supporting the vulnerable populations of the member countries from the pandemic and other fatal diseases.