The Islamic Development Bank (IDB) is partnering with Dutch asset manager Robeco to launch a $600 million food and agriculture fund to invest in projects that promote steady food supply, an issue widely seen as a
catalyst for the Arab Spring rebellions.
Food prices grabbed the attention of world leaders after their spike to record highs in February 2011 helped fuel the Arab Spring in the Middle East and North Africa, pushing the issue to the top of the agenda of policymakers responsible for the region.
The Saudi-based fund will make private equity investments in food and agriculture projects as well as companies across various target countries in a sharia-compliant way.
It will be run by a joint venture between the Islamic Corporation for the Development of the Private Sector (ICD), a unit of the IDB, and Robeco, a subsidiary of Dutch bank Rabobank.
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