The International Finance Corporation and US-Qatar Business Council Sign MoU to Boost Sustainable Investment
The International Finance Corporation (IFC), a member of the World Bank Group, and the US-Qatar Business Council (USQBC) signed today a Memorandum of Understanding (MOU) to promote sustainable investments and entrepreneurship in Qatar and the wider Middle East.
The MOU was signed during a ceremony with the involvement of key stakeholders, including members of IFC management and USQBC board members. This agreement represents the commitment of both organizations to enhancing economic collaboration as well as advancing initiatives that support job creation and sustainable development in the region.
This MOU has the primary objective of supporting the private sector, as well as identifying and promoting investment opportunities for Qatari companies in developing countries, focusing on projects that contribute to environmental and social sustainability. Joint initiatives will aim to share best practices and address skill gaps through entrepreneurship events, thought pieces and market studies, and IFC’s 1001 Stars program, which is a platform for private sector leaders to foster trainings, financial inclusion and equal job opportunities across the region – especially for women, youth, and other vulnerable groups.
Sheikha Mayes bint Hamad Al Thani, Managing Director of USQBC - Qatar, highlighted the importance of the partnership. She stated, “This joint effort is a significant step in unlocking entrepreneurial growth potential in Qatar and extending to the region. By identifying the optimal ecosystem that fosters innovation and sustainable investment, we aim to drive long-lasting economic impact. This agreement capitalizes on the economic relations between the United States and Qatar to set the stage for enhanced trade and investment opportunities that will benefit businesses in both countries."
Abdullah Jefri, IFC Senior Manager for the GCC noted: “By joining our forces with USQBC, we aim to tap into our combined strengths and networks to mobilize private sector investments as an engine of inclusive and sustainable growth that can transform people’s lives across the developing world. From harnessing entrepreneurship and cutting-edge technologies to leveraging cross-border investments, our goal is to tackle some of the most pressing development challenges such as unemployment, food insecurity, climate change, and inequality.”
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