Islamic Development Bank (IsDB) has started marketing a five-year dollar sukuk, or Islamic bond, a document issued by one of the banks showed.

The Islamic Development Bank (IsDB) has invested $50 million in private Sukuk issuance by the International Finance Facility for Immunisation (IFFIm), the second participation by the lender in a Sukuk issuance by IFFIm.

President of IDB, Dr. Bandar Hajjar, said: “Gavi’s (Global Vaccine Alliance) record of delivery in saving lives through immunisation is a perfect fit with the IDB’s priority to deliver impactful public health investments.”

IFFIm sells Vaccine bonds and Sukuk on international capital markets to accelerate the availability of funding for Gavi’s (Vaccine Alliance) life-saving vaccine and health system strengthening programmes.

“By working in collaborative partnerships such as this, we can accelerate progress towards the UN Sustainable Development Goals, that is why we are very pleased to support IFFIm’s Sukuk,” Hajjar said.

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