The International Finance Corporation, the investment arm of the World Bank, and the Abu Dhabi Fund for Development are seeking to sign a memorandum of understanding regarding a joint investment of $ 1.5 billion in the energy transition sector in emerging markets, according to what was reported by the Twitter site of the World Government Summit, according to the Director General of the International Finance Corporation, Mokhtar Diop.
Diop said, on the sidelines of the summit that Dubai will host this month, according to Reuters, today I will sign an agreement with the Abu Dhabi Fund for Development worth $ 1.5 billion, as we will participate with them in investing in the energy transition sector in emerging countries.
The government's Abu Dhabi Fund for Development supports development projects. This year, the UAE is expected to host the World Climate Summit (COP28).
The UAE, which is one of the largest oil exporters, aims to generate 50% of its energy from clean sources by 2050.
