The Road to the SDGs

requirement means that APIF financing often acts as a catalyst to increase philanthropic giving, as local and international donors step up to fill the gap. X Typically, a project is designed in such a way that the repayments on APIF financing are made entirely from the income of the project itself, ideally with a significant amount remaining to support the beneficiary’s activities during the repayment period. After the financing is repaid, all income generated goes to support the beneficiary’s activities in perpetuity. APIF resources not needed urgently are invested, taking into account generally accepted risk management principles. X In its capacity as Mudarib (Trustee/Manager), IsDB can seek the help of outside consultancy firms specialising in real estate investment and management to help in the structuring of financing, negotiating its terms and conditions and concluding its deals. ACHIEVEMENTS X So far, APIF has successfully supported 57 projects with broad impacts on individuals, communities and organisations, with a total value of US$ 1.21 billion, in 29 MCs and non-MCs. X APIF has embarked on a range of innovative initiatives, including conducting a full review of its model to transform/revamp it as necessary. X The APIF model has been repackaged as a unique contribution of IsDB to the development world, and a sensitisation campaign is underway among various development institutions and potential partners. X To support its outreach/ sensitisation efforts, APIF has also engaged in a number of new initiatives. These include the design of a new logo, website, animated video and brochure for APIF in line with the new corporate identity of IsDB, and an extensive exercise to collect, categorise and analyse the impact of APIF interventions, culminating in the APIF Impact Publication. X APIF has continued to support some of its most successful previous beneficiaries, such as the Mutawalli Committee (Board of Trustees) of the IsDB-Bangladesh Islamic Solidarity Education Waqf (IsDB-BISEW). New financing was approved for the second phase of this Waqf in 2019. INVESTMENT X As of December 2020, there are 16 participants in APIF, comprising IsDB, Awqaf ministries, Awqaf organisations, non-profit organisations and Islamic banks, with a total paid-up capital of US$ 88.5 million. Moreover, IsDB has extended a US$ 100 million line of financing to APIF to be utilised for the financing of APIF’s projects. X In 2020, IsDB approved an increase in APIF’s authorised capital from US$ 100 million to US$ 500 million. A W Q A F P R O P E R T I E S I N V E S T M E N T F U N D APIF has so far supported 57 projects with a total value of US$1.21 billion in 29 MCs and non-MCs IsDB has extended a US$100 million line of financing to APIF [ 103 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S