Bill Gates: Islamic Bank gets $500 million for Vaccine Agenda

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Maputo (IINA) – The Islamic Development Bank (IDB) and Bill & Melinda Gates Foundation have launched $500-million worth fund, called “Life and Living Fund,” to fight poverty and diseases. The decision was taken by Dr. Ahmad Muhammad Ali, president of IDB, and Bill Gates during the 40th annual meeting of the IDB, being held in Maputo, Mozambique, on Wednesday.The new fund aims to tackle poverty and disease in 56 IDB member countries, through support for health-care programs, small agricultural holdings and basic rural infrastructure.

Dr. Ali said that the fund will enable the Bank, through a combination of funding from donors and mobilized resources from the market, to provide additional funding of up to $ 2 billion, over five years, to fight poverty and disease in the member countries, especially the least developed member countries. The IDB president expressed hope that the fund would start operations in early 2016 thanks to the generous donations from the Gates Foundation and the Islamic Solidarity Fund for Development.

For his part, Bill Gates said that some member countries of the Organization of Islamic Cooperation (OIC) has achieved remarkable economic growth and stability, pointing out that more than one billion people in the world live in abject poverty, 400 million of whom live in the Muslim world.

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Bill Gates & world financing for his agenda

ISLAMIC DEVELOPMENT BANK recent press releases

Operations led a Bank-wide team to engineer an innovative “Triple-win” financing mechanism after months of negotiations and interactions with the Bill and Melinda Gates Foundation (Gates Foundation). This new and innovative financing mechanism, that is compliant with the Islamic modes of financing, holds promise for millions of people as more concessionary financing is made available to developing countries in Africa and Asia. Also, the Gates Foundation and the IsDB have declared their support for the eradication of polio in Nigeria and Afghanistan and then to extend the use of the financing mechanism to tackling the eradication of Malaria and overcoming Food Insecurity. Read more…

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