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$100 Million-Worth Fund to Support Jerusalem

The sixth General Assembly Meeting and the Annual Ceremony of the Al-Quds Fund and Al-Quds Waqf. WAFA
The sixth General Assembly Meeting and the Annual Ceremony of the Al-Quds Fund and Al-Quds Waqf. WAFA
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$100 Million-Worth Fund to Support Jerusalem

The sixth General Assembly Meeting and the Annual Ceremony of the Al-Quds Fund and Al-Quds Waqf. WAFA
The sixth General Assembly Meeting and the Annual Ceremony of the Al-Quds Fund and Al-Quds Waqf. WAFA

Executive Director of AI Quds Fund and Endowment Taher Al Disi announced on Friday the establishment of the Al-Ihsan Waqf Investment Fund with an initial worth $100 million to foster economic and social development.

The announcement was made during the sixth General Assembly Meeting and the Annual Ceremony of the Al-Quds Fund and Al-Quds Waqf, held in the presence of Saudi Prince Turki Al-Faisal, member of the Board of Directors of Al-Quds Fund and Endowment, Dr. Bandar Hajjar, President of the Islamic Development Bank (IsDB), and Palestinian Prime Minister Mohammad Shtayyeh.

At the ceremony, the Islamic Development Bank signed with Palestinian investors the agreement to establish the Al-Ihsan Waqf for Al-Quds and the Al-Quds Empowerment Fund.

Hajjar commended the role of Saudi Arabia in launching numerous initiatives in favor of Palestine in general and Al-Quds in particular.

He said these initiatives include the establishment of the Al-Aqsa and Al-Quds Funds with financial resources amounting to $1 billion, whose management has been entrusted to the Islamic Bank.

The President added that, upon the initiative of the Kingdom, the Islamic Solidarity Fund for Development (ISFD) was established to fight poverty.

Hajjar said that in 2018 the Kingdom took the initiative to establish a $150 million Waqf fund to support Awqaf projects in Jerusalem, with the management of the fund being entrusted to the IsDB.

He added that two months ago, the Palestinian People Economic Empowerment Fund, which will work with the poor and unemployed youth, was launched with an initial capital of $500 million.

“The IsDB will contribute $100 million and the ISFD, the IsDB poverty alleviation arm, $50 million,” he said.

The Palestinian Prime Minister strongly commended the initiative of the Islamic Development Bank to establish a fund for the economic empowerment of the Palestinian people with a capital of $500 million.

“We must inform the Palestinian people that the fund has become a reality, and that this initiative launched by the IsDB President is part of the economic clusters plan, especially the cluster for the capital city of Al Quds,” Shtayyeh said.

He noted that IsDB has made a significant contribution in favor of Palestine to help it address the coronavirus pandemic, making contributions in Gaza and in Al-Quds, which solidifies the unity of the Palestinian territories, adding that the Bank has also made contributions to empowerment projects and to the reconstruction of Nahr al-Bared camp in Lebanon.

Prince Turki said the world today is in an exceptional state. “However those exceptions cannot erase a constant, which is our meeting today to discuss a main cause, the cause of Palestine,” he said.

The Prince spoke about the historic efforts exerted by Saudi Arabia, through its leadership and people, to support the Palestinian cause.

“We are witnessing a great event by signing with the Islamic Bank a fund for Jerusalem worth $100 million,” Turki said.

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Arab World

Experts Warn Floods to Continue to Impact Humanitarian Situation in Yemen

Yemen receives high levels of rainfall annually (AFP)
Yemen receives high levels of rainfall annually (AFP)
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Experts Warn Floods to Continue to Impact Humanitarian Situation in Yemen

Yemen receives high levels of rainfall annually (AFP)
Yemen receives high levels of rainfall annually (AFP)

Although Yemen's rainy season nears its end, experts on Thursday warned of heavy showers in several areas across the country, nevertheless with a decrease in their frequency and intensity.

Heavy downpours in war-torn Yemen over the past weeks have triggered flash flooding and landslides, causing significant casualties and damages in properties and infrastructure.

On Tuesday, experts and meteorology centers forecast scattered rains on the easternmost province of Mahra, the western highlands in the provinces of Taiz, Ibb, Lahj, Rayma, Dhamar, Sanaa, Al Mahwit, Amran, Hajjah and Saada, as well as the western coast in the provinces of Hajjah, Hodeidah and Taiz, and the plains in the provinces of Abyan, Shabwa and Hadramaut.

In forecasts posted on social media, the experts warned of thunderclouds carrying huge amounts of rain, accompanied by hail, thunder and strong winds, urging residents to take the necessary precautions.

Since early this month, Yemen has witnessed a drop in rainfall. In July and August, Yemen experienced severe flooding due to prolonged heavy rainfall, fueled by unusual weather patterns. Numerous governorates across the nation were impacted, especially the governorates of Hodeidah and Al Mahwit.

The International Rescue Committee (IRC) this week warned of a deepening humanitarian disaster in Yemen as ongoing floods, which began in March and intensified in July and August, continue to devastate multiple governorates.

The floods have displaced tens of thousands of families, destroyed vital infrastructure, and fueled the rapid spread of cholera.

Floods have severely impacted the governorates of Hodeidah, Hajjah, Marib, Saada, and Taiz, with nearly 268,000 individuals affected as of last month.

IRC warned that while rainfall has stopped in September, the risk of additional flash floods remains high due to already saturated ground and poor drainage systems.

Severe Impact of Floods

IRC said that floods have severely impacted the governorates of Hodeidah, Hajjah, Marib, Sadah, and Taiz, with nearly 268,000 individuals (38,285 families) affected as of last month, according to OCHA reports.

It said the heavy rains, expected to persist into September, have caused widespread destruction of homes, agricultural land, and infrastructure, further limiting access to food - an issue that more than 17 million Yemenis are already struggling with due to conflict, economic decline, and rising food prices, all exacerbated by the climate crisis.

In Taiz alone, an estimated 70 to 100% of agricultural land has been destroyed. While rainfall has stopped in September, the risk of additional flash floods remains high due to already saturated ground and poor drainage systems.

The IRC urgently called on the international community to scale up financial and logistical support to meet the immediate and long-term needs of those affected by this disaster. Without timely action, the situation in Yemen will continue to deteriorate, putting more lives at risk, it warned.

Rapid Spread of Cholera

“Yemen is facing a crisis on multiple fronts—ongoing conflict, severe flooding, and now a cholera outbreak that has been rapidly spreading across several governorates,” IRC’s Acting Country Director in Yemen, Isaiah Ogolla, said.

Ogolla said people’s lives are at immediate risk, and the destruction of water and sanitation facilities is likely to worsen the spread of the disease.

“In response, the IRC is launching emergency operations in the hardest-hit districts of Hajjah, Hodeidah, Al-Mahwit and Taiz, providing cash assistance to approximately 2,000 affected households,” he said.

The IRC acting country director noted that the initial phase will focus on addressing immediate needs, with further assessments planned to guide potential interventions in water and sanitation, such as establishing water points and emergency latrines.

Ogolla said the IRC and its partners have conducted assessments across the affected areas, revealing that nearly 9,600 people have been displaced due to the floods in Taiz, Hajjah, and Hodeidah.

The floodwaters have severely damaged water, sanitation, and health infrastructure, increasing the risk of further cholera outbreaks across these regions.

On Tuesday, the King Salman Humanitarian Aid and Relief Center (KsRelief) distributed emergency shelter aids to those affected by torrents and floods in the Mawza district of Taiz Governorate.

The emergency aid included 100 tents and 370 shelter bags, benefiting 2,220 individuals affected by floods.