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Home » News » Ubon Udoh appointed Managing Director of the Abdul Samad Rabiu Initiative’s Africa Fund for Social Research & Development, ASR Africa
Ubon Udoh appointed Managing Director of the Abdul Samad Rabiu Initiative’s Africa Fund for Social Research & Development, ASR Africa
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The Abdul Samad Rabiu Africa (ASR Africa) initiative has announced the appointment of consummate International Development and M&E expert, Ubon Udoh as its pioneer Managing Director/Chief Executive effective immediately.
The ASR Africa Initiative, which is the brainchild of industrialist and Philanthropist, Abdul Samad Rabiu was recently set up with an annual pledge of $100million dedicated to Health, Education and Social Development issues within the African continent – with Nigeria to benefit $50million yearly and the rest of Africa, $50miilion dollars in what is the largest private philanthropic giving of its kind by an individual
Ubon Udoh Appointed Managing Director Of The Abdul Samad Rabiu Initiative s Africa Fund For Social Research & Development, Asr Africa
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Nasdaq Dubai welcomes listing of $2.5bn IsDB sukuk
DUBAI, 5 hours, 26 minutes ago Nasdaq Dubai has welcomed the listing of a $2.5 billion Sustainability Sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries. This is the second AAA-rated Sukuk issuance under the Sustainable Finance Framework of IsDB and is the bank’s biggest US dollar public issuance to date, reported Emirates news agency
WAM. The 5-year $2.5 billion Trust Certificates were priced at par with a profit rate of 1.262 percent, payable on a semi-annual basis. Proceeds of the Sukuk will be allocated to finance and refinance green and social development projects that are eligible under IsDB Sustainable Finance Framework.
Dubai: UAE-based global philanthropic organisation Dubai Cares on Tuesday joined a $5 billion (Dh18.3 billion) education support programme for children in 90 lower-income countries and territories.
The Islamic Development Bank (IsDB) and Dubai Cares, part of Mohammad Bin Rashid Al Maktoum Global Initiatives, on Tuesday committed $202.5 million for the ‘Raise Your Hand’ financing campaign of Global Partnership for Education (GPE).
First pledges
Dubai Cares contributed $2.5 million (around Dh9.18 million) and IsDB pledged $200 million (around Dh734.6 million). The pledges are the first from the Middle East. With its latest pledge, Dubai Cares has doubled its previous contributions to GPE in 2014 and 2018. Dubai Cares was the first non-government and philanthropic organisation to contribute funding to GPE.
RIYADH: The Jeddah-based Islamic Development Bank (IsDB) has pledged $200 million to the 2021-2025 Raise Your Hand financing campaign of the Global Partnership for Education (GPE), it was announced on Tuesday.
GPE is a partnership and funding platform that aims to strengthen education systems in lower-income countries and increase the number of children in school and learning.
The announcement was made at the Middle East launch of GPE’s Case for Investment, which calls on global leaders to pledge at least $5 billion toward education in 90 lower-income countries and territories.
“Our objective is to raise $400 million in the Arab countries,” Serigne Mbaye Thiam, GPE board vice chair and Senegal’s minister of water and sanitation, told Arab News on the first day of his three-day visit to Saudi Arabia.
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