IOFS and IsDB explore joint actions to mitigate food security crisis following the COVID-19 Pandemic

IOFS and IsDB explore joint actions to mitigate food security crisis following the COVID-19 Pandemic
10 April 2020

Senior officials of the Islamic Development Bank (IsDB) and Islamic Organisation for Food Security (IOFS) held a videoconference on 9 April to exchange information and explore joint actions for the promotion of food security in OIC member states in the wake of the coronavirus spread (COVID-19).

Both sides reviewed efforts aimed to support their member states in the confrontation of the impending food securing crisis attendant on the socio-economic consequences of the global coronavirus pandemic. Measures, such as budget support, emergency food aid, export incentives and socio-economic palliatives, were discussed within the framework of the Memorandum issued by IOFS on 6 April 2020. Both sides also underscored the need to respond robustly to the various requests from member states, including support for the advocacy on avoiding food waste and post-harvest losses.

The parties also discussed the existing joint 3-year action plan in the framework of the Memorandum between IOFS and IsDB, featuring the development of strategic food and agricultural commodities (rice, wheat, cassava and palm oil) as well as livestock and fisheries, the creation of Islamic Food Processing Association and the Halal Food Sector. They also agreed to participate in the medium-term programmes and projects towards promoting food system resilience and agrifood value-addition in their member states, among others. 

The meeting took note of the various financial commitments made by IsDB and its subsidiaries, against the background of ensuring proper coordination of the interventions of the various OIC institutions as well as national and international financial agencies. 

The meeting agreed to be seized with a discussion of the emergency support action of the two specialised institutions of OIC to OIC member states during the current challenging period.