ADFD signs agreement with US based agency on private sector investments – The National

ADFD signs agreement with US based agency on private sector investments – The National

ADFD signs agreement with US based agency on private sector investments. Abu Dhabi Fund for Development on Tuesday signed a preliminary agreement with the US International Development Finance Corporation (DFC) to boost collaboration in financing private sector investments internationally with a focus on projects having a "transformative impact on communities" in developing countries.. As part of the agreement, the two entities will work closely together to consolidate their development collaboration, exchange information, identify prospects for development projects and enter project-specific cooperation agreements, the fund said in a statement on Tuesday.. "We are delighted to sign this [agreement] that articulates ADFD's keenness to work closely with international organisations to address the greatest challenges affecting sustainable development globally," said Mohammed Saif Al Suwaidi, director general of ADFD in a statement. ". In addition to strengthening the long-standing strategic partnership between the UAE and the USA, the [agreement] will allow us to catalyse private sector investments to maximise the socio-economic effects of our projects worldwide".. Since its inception in 1971, ADFD has funded development projects in 94 countries, totalling Dh102 billion through concessionary loans, government grants, and investments.. ADFD's portfolio includes equity stakes in numerous companies and private equity funds that play a