The mechanisms of the formation and evolution of the Milky Way are encoded in the orbits, chemistry and ages of its stars. With the 4MOST MIlky way Disk And BuLgE Low-Resolution Survey (4MIDABLE-LR) we aim to study kinematic and chemical substructures in the Milky Way disc and bulge region with samples of unprecedented size out to larger distances and greater precision than conceivable with Gaia alone or any other ongoing or planned survey. Gaia gives us the unique opportunity for target selection based almost entirely on parallax and magnitude range, hence increasing the efficiency in sampling larger Milky Way volumes with well-defined and effective selection functions. Our main goal is to provide a detailed chrono-chemo-kinematical extended map of our Galaxy and the largest Gaia follow-up down to $G = 19$ magnitudes (Vega). The complex nature of the disc components (for example, large target densities and highly structured extinction distribution in the Milky Way bulge and disc area), prompted us to develop a survey strategy with five main sub-surveys that are tailored to answer the still open questions about the assembly and evolution of our Galaxy, while taking full advantage of the Gaia data.