ADFD and IDB Group explore partnership possibilities
Abu Dhabi Fund for Development (ADFD) hosted a high-profile delegation from the Inter-American Development Bank (IDB) Group to discuss opportunities for cooperation on future development projects in Latin America and the Caribbean.
Participants explored new strategies and potential partnerships in support of infrastructure development projects for any of the 26 IDB financed countries, and set a schedule of future meetings to firm-up and elaborate project specifics.
HE Mohammed Saif Al Suwaidi, Director General of ADFD, Luis Alberto Moreno, President of IDB, as well as senior representatives of the two parties attended the meeting.
“ADFD is keen to pursue new partnership opportunities to better serve developing countries. Within the framework of development projects in Latin America and the Caribbean, we have identified several initiatives that aim to support governments in achieving their socio-economic goals and growth objectives,” said Al Suwaidi.
He added that IDB is one of the oldest banks in the region that has spearheaded significant efforts to advance infrastructure development. Given its shared vision and customised, multi-pronged approach to funding developmental projects, a joint initiative between ADFD and IDB would bring greater benefits, support more lives and drive more economic stimuli.
Moreno highlighted the similarities between the operations of the two parties from their common focus on infrastructure development to supporting governments and collaborating with the private sector. He welcomed the potential partnership with ADFD and expressed IDB’s keenness on future collaboration in co-financing developmental projects. In closing, Moreno invited ADFD to attend the next IDB annual meeting, held in Paraguay in end-March 2017, to study development plans.