APICORP, Islamic Development Bank partner in $1bn infrastructure financing initiative

Arab News | Jan 12, 2022 at 1:23 PM
  • Arab Petroleum Investments Corporation, or APICORP, has partnered with the Islamic Development Bank to establish a $1 billion (SR3.75 billion) private sector-focused infrastructure fund.
  • The fund, called the Infra Initiative, will be used to finance facilities to strategic utility projects with limited access to international financing.
  • By encouraging public-private partnerships, the two firms aim to address low private sector participation in funding energy projects to bridge the $200 billion investment gap in similar projects among the Organization of Islamic Cooperation member countries.