Dubai: Investment Corporation of Dubai (“ICD”), the sovereign wealth fund of the Emirate of Dubai, and the Export-Import Bank of Korea (Kexim) have signed a Memorandum of Understanding (MoU) to form an alliance to explore international investment and export finance opportunities across Asia, the Middle East and Africa.
Kexim is the official trade finance agency of The Republic of Korea with a remit to provide export finance or support international investments in which Korean parties participate.
ICD Board Member, Sheikh Ahmed bin Saeed Al Maktoum, stated that, “ICD is very pleased to be entering into this venture with Kexim, who provide unparalleled connectivity with the Korean business community that includes many global leading companies with proven export credentials, in addition to the financial strength, acumen, discipline and track record to successfully deliver on investment projects”.
The alliance spans a broad geographical area ranging from Far East Asia to Africa and is expected to initially be focused on the healthcare, infrastructure and energy sectors, with an ability to be expanded in future.
Investment Corporation of Dubai holds a diversified group of assets. ICD’s portfolio includes many of the Emirate of Dubai’s flagship assets, such as Emirates Airlines, Emirates National Bank of Dubai, Dubai Islamic Bank, Dubal, Borse Dubai and Enoc.
