According to Amac News: The announcement of the Abu Dhabi Development Fund (ADFD) states that this agreement was signed with the aim of strengthening cooperation to promote sustainable economic growth and reduce inequality in Latin America.
This agreement creates a framework for joint initiatives in the joint financing of projects, investment and information exchange on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group, which are organized by the General Secretariat of the Persian Gulf Cooperation Council in cooperation with the Persian Gulf Cooperation Council.
The key areas of cooperation outlined in this agreement cover a wide range of joint activities, including joint financing or parallel financing of projects, as well as joint investments and initiatives.
In addition, the organizations commit to the joint development and evaluation of projects for potential financing, thus strengthening synergies in the identification and preparation of investment opportunities.
The exchange of information on projects and initiatives plays an important role in this partnership, allowing both institutions to benefit from mutual knowledge and experience.
The agreement also leaves open the possibility of exploring other mutually agreed forms of cooperation and provides flexibility to adapt to future needs and opportunities.
ADFD is dedicated to fostering innovation and investment in key sectors that drive economic growth and empower local communities. Together, we believe that collaboration can lead to sustainable results that truly transform lives.
This agreement emphasizes the commitment of both organizations to strengthen economic development and improve living standards in developing countries.
CAF, as a multilateral financial institution, brings its extensive experience in Latin America, while ADFD contributes its expertise in providing concessional financing to developing countries around the world.
This collaboration is expected to increase the capacity of both institutions to support critical infrastructure projects, social development and economic growth in CAF partner countries.