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