IFC Provides Over USD 2.3 Billion Financing To UAE Multinational Companies By End Of 2024

Makhtar Diop, the Managing Director of the International Finance Corporation (IFC), highlighted that by the end of 2024, the IFC had extended over US$2.3 billion in financing to multinational companies based in the UAE. This substantial financial support underscores the robust partnership between the IFC and UAE enterprises.

Diop emphasised that the UAE is a significant investor in renewable energy projects across Africa. He noted that the IFC is dedicated to enhancing its collaboration with Emirati firms in various sectors. This commitment aims to bolster investment opportunities and foster economic growth.

The IFC is actively working to attract more investments from UAE companies into regions such as Europe, Central Asia, and Latin America. To facilitate these investments, the organisation is utilising a range of financial tools and guarantees. These measures are designed to ease Emirati investments into emerging markets.

Diop revealed that the IFC is increasingly focusing on equity investments despite their inherent risks and volatility. To mitigate these challenges, the IFC is developing mechanisms aimed at managing risks associated with specific geographical areas. This approach seeks to enhance private sector growth potential.

The UAE's role in promoting sustainable global growth was also highlighted by Diop. He affirmed that the IFC remains committed to ongoing cooperation with UAE companies. The strategic nature of this relationship is evident through partnerships with multiple Emirati firms investing worldwide.

During a conversation with Emirates News Agency (WAM) at the World Governments Summit (WGS) 2025 in Dubai, Diop shared insights into these collaborations. He described how these partnerships focus on key sectors that drive economic development and contribute to long-term sustainability.

Financial Achievements and Future Goals

In addition to supporting UAE-based companies, Diop mentioned that during the past financial year ending June 2024, the IFC invested US$56 billion in emerging markets globally. This investment reflects their commitment to fostering economic development in diverse regions.

The IFC's strategic alliances with Emirati businesses are crucial for achieving sustainable development goals. By leveraging these partnerships, both parties aim to drive economic progress while addressing global challenges related to sustainability and growth.

The collaboration between the IFC and UAE firms continues to play a vital role in advancing economic development across continents. Through strategic investments and risk management strategies, they aim to create lasting impacts on global markets while promoting sustainable practices.

With inputs from WAM