The Global Islamic Fund for Refugees (GIFR)

GIFR

 Global Islamic Fund for Refugees (GIFR) is a joint initiative of the United Nations High Commissioner for Refugees (UNHCR), the Islamic Development Bank (IsDB) and its poverty alleviation arm the Islamic Solidarity Fund for Development (ISFD).

GIFR was established in September 2022 to provide sustainable capital resources to support humanitarian and economic empowerment of refugees, internally displaced people, stateless people, and their host communities in IsDB member countries. The GIFR shall have a particular focus on, among others, education and job creation programs, health, water, protection, sanitation and hygiene, shelter, climate action including green energy and emergency response to foster resilience and increase prospects for a normal and dignified life in existing situations and upon return to home countries.

Fund Objectives  

The GIFR aims to:  

  • Serve as a Shari’ah-compliant financing mechanism to mobilize Islamic almsgiving from donors who are willing to contribute to a fund that provides financial support to the humanitarian and socio-economic needs and requirements of forcibly displaced people and their host communities in IsDB member countries,
  • Mobilize Waqf and non-Waqf donations and contributions from government from IsDB member countries and non-IsDB member countries, non-governmental organizations, private foundations, and philanthropists, financial and development institutions, trust funds, business corporations, high net worth individuals, and the general public locally, regionally, and worldwide, and  
  • Allocate suitable funds to designated programs and projects proposed by IsDB and UNHCR to support forcibly displaced people and their host communities in IsDB member countries. 

ISFD Contribution  

As part of the Global Islamic Fund for Refugees, the ISFD contributed US$50 million to the Fund. This contribution along with US$50 contributed by the UNHCR will be invested and the proceeds from investments will be utilized to respond to forced displacement situations.

Details
Program name
GIFR
Sector
Economic Empowerment
Beneficiaries
Aiming to improve the lives of vulnerable populations, the GIFR will channel financial resources towards addressing the humanitarian and socio-economic needs of refugees, internally displaced people, stateless people, and their host communities within IsDB member countries.
Launch Date
September 1, 2022