ISFD and ICEI Partner to Empower Women, Youth, and Communities in OIC Countries

Riyadh, Kingdom of Saudi Arabia – April 29, 2024: The Islamic Solidarity Fund for Development (ISFD) and the International Center for Entrepreneurship and Innovation (ICEI), signed a Memorandum of Understanding (MoU) to collaborate on promoting economic empowerment and social development in Organization of Islamic Cooperation (OIC) member countries. 

The MoU, signed on the sidelines of the IsDB Annual Meetings by Dr. Hiba Ahmed, the ISFD Director General, and H.E. Shaikh Ebrahim bin Khalifa Al Khalifa, Honorary Chairman of the Board of Trustees of ICEI, reflects a shared commitment to achieving the Sustainable Development Goals (SDGs) by focusing on economic empowerment, particularly for women and youth. In addition, it establishes a framework for collaboration across several key areas. These include developing a Women Economic Empowerment Strategy, fostering poverty alleviation by empowering women and youth in smart green agriculture and food security initiatives, and supporting vulnerable groups and people with disabilities. The MoU also encourages the development of smart cities that foster social entrepreneurship, facilitates digital transformation in manufacturing, healthcare, education, and the creative economy, and enhances innovation and life skills development within educational institutions. 

Dr. Hiba Ahmed highlighted the potential of this partnership and stated: “This partnership with ICEI presents a tremendous opportunity to leverage our combined expertise and resources to empower women and youth as key drivers of sustainable development across the OIC member states. By fostering inclusive economic ecosystems, we can create a lasting positive impact on poverty reduction, social integration, and overall prosperity." 

H.E. Shaikh Ebrahim bin Khalifa Al Khalifa echoed this sentiment and said: "We are thrilled to join forces with the ISFD in this crucial endeavor. This MoU underscores the importance of economic empowerment as a cornerstone for achieving the SDGs. Through collaborative efforts, we can unlock the potential of women and youth as innovators and entrepreneurs, leading to a more prosperous and sustainable future for OIC countries."