PHOTO
The US International Development Finance Corporation (DFC) and the European Investment Bank (EIB) on Thursday signed a Memorandum of Understanding (MOU) to foster their cooperation in identifying and supporting new investments globally.
The MOU will enable possible projects in Africa, the Indo-Pacific, Latin America and the Caribbean, the Middle East, and the Western Balkans.
Potential investments will focus on strategic areas for both the European Union and the United States, including energy security, information and communications technology (ICT), health services and infrastructure, water and wastewater, climate action, and nature-based solutions.
DFC CEO Scott Nathan said: “The MOU underscores our shared goal of investing alongside the private sector in opportunities that will advance the development and foreign policy priorities of the US and EU.”
EIB President Werner Hoyer added: “Partnering with the DFC represents a tangible pooling of our strengths and expertise to drive finance into projects that can help us tackle climate change, the energy crisis as well as cybersecurity threats.”
The MOU was signed on the side lines of the 2023 Spring Meetings of the World Bank Group and International Monetary Fund.
(Writing by SA Kader; Editing by Anoop Menon)
