Apicorp and IsDB collaborate on $1bn infrastructure financing initiative – The National

Apicorp and IsDB collaborate on $1bn infrastructure financing initiative – The National

The Arab Petroleum Investments Corporation (Apicorp) and the Islamic Development Bank (IsDB) jointly set up a $1 billion private sector-focused infrastructure financing initiative to bridge the investment gap in utility projects by encouraging more private sector investments and mobilising additional funding.

The funds from the Infra Initiative will be used to finance strategic utility projects that contribute to human and economic development in the two institutions’ member countries, they said in a joint statement on Wednesday.

As a part of the initiative, money will be allocated to electricity generation and transmission projects that utilise renewable energy or natural gas, as well as water and waste management facilities.