Afc signs master cooperation agreement international finance corporation

AFC (Abu Dhabi Fund for Development) has signed a Master Cooperation Agreement with the International Finance Corporation (IFC), a member of the World Bank Group.

The agreement aims to strengthen the partnership between AFC and IFC in promoting private sector development, economic growth, and job creation in developing countries. The agreement covers a range of areas, including:

  1. Investment in infrastructure: AFC and IFC will collaborate on investing in infrastructure projects, such as transportation, energy, and water, in developing countries.
  2. Private sector development: The two organizations will work together to promote private sector development, including supporting small and medium-sized enterprises (SMEs) and entrepreneurship.
  3. Financial inclusion: AFC and IFC will collaborate on initiatives to improve financial inclusion, including increasing access to financial services for underserved communities.
  4. Climate change: The agreement includes a focus on addressing climate change, including investing in renewable energy and sustainable infrastructure.
  5. Capacity building: AFC and IFC will work together to build capacity in developing countries, including training and capacity-building programs for government officials, private sector executives, and entrepreneurs.

The Master Cooperation Agreement is a significant milestone in the partnership between AFC and IFC, and it is expected to have a positive impact on the economies of developing countries.