The Islamic Development Bank (IsDB), represented by Islamic Research and Training Institute (IRTI), has signed an agreement with the Oxford Poverty and Human Development Initiative (OPHI) of the University of Oxford to collaborate in undertaking multidimensional poverty assessments in IsDB Member Countries.
OPHI is a research center in the Oxford Department of International Development at the University of Oxford and focuses on multidimensional poverty measurement. It aims to build and advance a more systematic methodological and economic framework for reducing multidimensional poverty, grounded in people’s experiences and values.
The agreement was signed on 9 December 2020 by Dr. Sami Al-Suwailem, Acting Director General of IRTI and Chief Economist, and Professor Diego Sanchez-Ancochea, Head of Oxford Department of International Development.
IsDB and OPHI will collaborate in undertaking multi-dimensional poverty assessment in IsDB Member Countries, knowledge solutions including joint poverty assessments, joint key knowledge events and other strategic studies on countries of common interest.
Under the collaboration, it is envisaged that a series of reports assessing multidimensional poverty in IsDB Member Countries will be undertaken. In 2021, the reports will focus on the aggregate level examininig the Group of 42 IsDB Member Countries for which there is data as well as for IsDB Africa and Latin America Member Countries, IsDB MENA and Europe Member Countries, and IsDB Asia Member Countries.
A more indepth country analysis will be undertaken on a pilot for one IsDB Member Country wherein a member country partnership strategy is expected. All the reports will be developed using the 2020 Global Multidimensional Poverty Index to analyse Multidimensional Poverty by sub-national region, urban and rural areas, and age group.
The assessment and subsequent reports will provide policymakers with useful information on the nature and extent of poverty and vulnerability, and will provide the evidence basis for design and implementation of both policies and interventions. The reports will also cover the potential relationship between the Covid-19 pandemic and multidimensional poverty in the various regional groupings.
The collaboration is in line with the IsDB President’s 5-Year Program, which aims to make the IsDB more competitive and responsive to the needs of its Member Countries.
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About the Islamic Development Bank (IsDB)
IsDB is a multilateral development bank that has been working for over 40 years to improve the lives of the communities it serves by delivering impact at scale. IsDB has 57 Member Countries across four continents, touching the lives of 1 in 5 of the world’s population. We are one of the world’s largest multilateral development banks, with an annual volume of operations above $10 billion and subscribed capital of $33 billion.
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© Press Release 2020
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