Gates Foundation Signs Deal With Islamic Development Bank

Bloomberg is reporting that the Bill & Melinda Gates Foundation signed an agreement with the Islamic Development Bank for a program to fight contagious diseases and provide food security in several countries, the Saudi Press Agency reported.

The five-year program will cover projects mainly in Pakistan, Afghanistan and Nigeria, SPA reported, citing Ahmad Mohamed Ali, chairman and president of the Jeddah, Saudi Arabia- based Islamic Development Bank.

According to The National, A memorandum of understanding signed by IDB, based in Jeddah, and the Gates Foundation establishes a collaboration over five years for agricultural development, and the elimination of malaria and polio across Pakistan, Afghanistan and Nigeria.

“I am enthusiastic about our collaboration with the Islamic Development Bank,” said Bill Gates, the co-chair of the foundation.

IDB provides financial assistance to 56 countries in the Islamic world in loans and grants.

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