The Road to the SDGs

PURPOSE X In recent years, IsDB has recognised the need to expand the concessional resource financing envelope for critical human development projects in the least developed MCs (LDMCs) beyond what was available — approximately US$ 350 million annually. X With the global adoption of the SDGs, the situation became more urgent, with renewed emphasis on the need for increased public spending and ownership of socioeconomic development initiatives by MCs. X Non-traditional donors have continued to emerge as important contributors to the global development financing landscape, especially in the regions of IsDB MCs. In particular, the Bill and Melinda Gates Foundation (BMGF) was looking to partner with regional players with common objectives to: – Expand its work in IsDB MCs – Increase the regional ownership of its programmes – Allow the Foundation to scale up its footprint through a ‘financing for development’ initiative. – Expand financing capacity of MCs while meeting international debt sustainability targets. X The BMGF had previously collaborated with IsDB in the Pakistan Polio Eradication Programme, with highly positive outcomes. Recognising the potential for further mutually beneficial ventures, the two institutions jointly devised an innovative multilateral cooperation model which is today known as the LLF. METHOD X The LLF was conceptualised to build on IsDB South-South cooperation model, having regional donor partners and IsDB work together to maximise affordable concessional financing for critical human development projects in LDMCs. X Blending with OCR helped multiply donor contributions to allow interventions at scale, which might not have been possible with grants alone. X The LLF seeks to achieve a diverse set of objectives: I sDB’s collaboration with donor partners is achieving impressive development results through the Lives & Livelihoods Fund (LLF) Partners in the LLF include Abu Dhabi Fund for Development, Bill and Melinda Gates Foundation, the UK Foreign, Commonwealth & Development Office, ISFD, King Salman Humanitarian Aid and Relief Centre, and Qatar Fund for Development Lives and Livelihoods Fund External resource mobilisation is underway, with US$407 million in donor grants already mobilised to increase IsDB’s concessional financing capacity [ 124 ] SDGs