Islamic social financing to support efforts to recover and rebuild from COVID-19 pandemic

Islamic social financing to support efforts to recover and rebuild from COVID-19 pandemic

NNA - The United Nations and the Islamic Development Bank today launched an initiative to assist finance efforts to recover better as the world continues to grapple with the COVID-19 pandemic.

Coming at a time when the global health and economic crisis have pushed millions of people into extreme poverty, Islamic social financing has the potential to provide urgently needed support for poverty alleviation, economic recovery, pandemic response, and sustainable development.

“Standing in solidarity with those in need means exploring how Islamic social financing can support the pandemic response through the ACT-Accelerator and its COVAX Facility, as well as other initiatives and vehicles to ensure equitable access to vaccines, diagnostics and therapeutics,” said Ms. Amina Mohammed, the Deputy Secretary-General of the United Nations, in her opening statement at the event.