BANGKOK, 18th October, 2026 (WAM) -- Abu Dhabi Fund for Development (ADFD) and the World Bank Group have signed a Memorandum of Understanding establishing a framework for cooperation to advance sustainable economic development, strengthen resilience and improve livelihoods in developing countries.

The agreement was signed on the sidelines of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group by Mohamed Saif Al Suwaidi, Director-General of ADFD, and Ajay Banga, President of the World Bank Group.

The MoU provides a basis for both institutions to explore joint development initiatives, drawing on their respective financing capabilities, technical expertise and country-level relationships to address development priorities and support long-term economic growth.

Al Suwaidi said, "Development finance must go beyond funding individual projects to create lasting, measurable change in the economies and communities they serve. By partnering with the World Bank Group, we aim to align financing with global expertise and country-level priorities to develop solutions that address critical development needs, strengthen resilience and create opportunities for sustainable growth. This cooperation reflects our shared ambition to translate development priorities into bankable projects that deliver tangible, long-term benefits for communities."

Under the agreement, both institutions will focus on knowledge exchange, capacity building, project preparation and potential co-financing across priority sectors, including energy, water security, agriculture and food security, digital infrastructure and the responsible deployment of artificial intelligence (AI).

Through combining ADFD's development financing capabilities and government relationships with the World Bank Group's global expertise, country knowledge, project-preparation capacity and financing instruments, the partnership aims to develop a pipeline of sustainable, bankable projects with measurable development outcomes.

The collaboration will also seek to expand access to essential services, strengthen economic opportunities and support countries in addressing evolving development challenges.

The agreement forms part of ADFD's broader engagement at the Annual Meetings, where discussions with international development partners are helping advance cooperation on shared development priorities. Water security remains a key focus of these efforts, particularly ahead of the 2026 UN Water Conference, which will take place in Abu Dhabi in December.

Through its participation, ADFD is highlighting the importance of mobilising development finance and strengthening international partnerships to advance sustainable water solutions and build resilience in vulnerable communities.