MoC signed by Abu Dhabi Fund for Development, IFC to support investments in sustainable sectors

February 14, 2023

Abu Dhabi Fund for Development (ADFD) and the International Finance Corporation (IFC), a member of the World Bank Group, has signed a Memorandum of Cooperation (MoC) during the World Government Summit to support investments in emerging markets related to the clean energy transition, climate mitigation, and adaptation, the adoption of clean technologies, and food security amongst others. The cooperation framework aims to strengthen the strategic collaboration between the two organizations in several key areas, including co-investing up to AED 5.5 billion ($1.5 billion) in private sector-led projects. The agreement was signed by Mohamed Saif Al Suwaidi, Director-General of ADFD; and Makhtar Diop, Managing Director of IFC. Al Suwaidi stated that this partnership presented promising opportunities for attaining the sustainable development goals of developing countries

Read the original article in Zawya: Abu Dhabi Fund for Development, IFC to finance sustainable private sector projects