IFC & ICD Enhance Collaboration

Extracted 16AUG2011 from http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument...

Washington, D.C., August 15, 2011—IFC, a member of the World Bank Group, and the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, today announced that ICD has adopted IFC’s Master Cooperation Agreement. The agreement makes it easier for both institutions to collaborate on private sector investments in the Middle East and North Africa and in emerging markets worldwide.

IFC mobilizes funding from other financiers to meet the needs of private sector clients in emerging markets.  The Master Cooperation Agreement standardizes steps that lenders take when joining IFC to cofinance projects, increasing efficiencies, and cutting costs to borrowers and lenders throughout the life of a loan. Lenders who adopt the agreement benefit from IFC’s existing syndication platform, deal-structuring expertise, due diligence, and global presence.