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Islamic Development Bank to support Nigeria on poverty alleviation

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The Islamic Development Bank (IsDB) has pledged to assist Nigeria to scale up its response to humanitarian crisis and poverty.

Dr. Muhammad Sulaiman Al Jasser, the Chairman and Group Chief Executive of the Bank, made the commitment during a sideline panel discussion at the Climate Change Conference (COP 28) in Dubai, United Arab Emirate.

He said the decision was part of efforts of the bank to align with the objective of the “Paris Agreement.”

Al-Jasser said climate change had exposed countries to the consequences of disasters, poverty, insecurity and humanitarian crises.

“We must quickly intervene to protect the population through social protection and scale up of the social safety net.

“Nigeria needs the support of the Islamic Development Bank through its beautiful initiatives. The time to act is now,” he said.

“This framework, which is being launched here at COP 28, signals our readiness to collaborate with all stakeholders, governments, the private sector, civil society, and other development institutions to harness the immense potential of the Paris Agreement for sustainable development.

“In Our current role as Chair of the Multilateral Development Banks (MDBs) Working Group on Climate Change, we seek to better coordinate efforts among MDBs at the country level and support the development of long-term national strategies” he said.

Al-Jasser said the Islamic Development Bank Group stood ready to play its part, support member countries, and work closely with strategic partners.

Dr Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, said: “It’s time for us to move from words, commitments, and policy frameworks to actual action and implementation of the climate change adaptation plan.

“The federal government of Nigeria is committed to active partnerships that will translate into solutions for millions of Nigerians.”

Edu, who singled out Nigeria due to its policy thrust on humanitarian response and poverty alleviation, said truly, Nigeria was deserving of the support of the bank.

She said this was due to President Tinubu’s laudable programmes and interventions in various sectors closely linked to climate change adaptation.

Edu listed the programmes to include the humanitarian and poverty alleviation programmes required to address issues following from flooding, erosions, drying up of the Lake Chad Basin, amongst other issues that had taken away livelihoods, displaced millions and heightened insecurity and insurgence.

She said the Humanitarian and Poverty Alleviation Trust Fund was one of the administration’s many ideas to reduce the poverty index and promote prompt responses to humanitarian situations across Nigeria.

Edu said the “GROW NIGERIA” was another intervention closely linked to climate change solutions.

In attendance at the high-level meeting was the UN Assistant Secretary General & CEO of African Risk Capacity Group, Mr Ibrahima Cheikh Diong, ILO Director for Priority Action Programme on Just Transitions, Dr. Moustapha Gueye, AGRA President, Dr. Agnes Kalibata, IsDB Director, Resilience & Climate Action, Syed Husain Quadri, and

Manager Climate Change and Environment, Dr. Daouda Ndiaye.

The sideline panel was moderated by Dr. Zeinab Usman, Director of Africa Program Carengie Endowment.

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