The Multilateral Cooperation Center for Development Finance (MCDF) has published the MCDF 2023 Annual Report and Audited Financial Statements, as approved by the MCDF Governing Committee.

Click to Download the MCDF 2023 Annual Report and Audited Financial Statements

The annual report highlights the steady expansion of MCDF activities during its third year of operations to support high-quality cross-border connectivity infrastructure development in developing countries through partnerships and the promotion of International Financial Institution (IFI) standards.

It details the MCDF Finance Facility portfolio’s 180 percent growth in 2023, with the doubling of its approved project grants to 18, reaching the total amount of USD27.4 million and lifting its total projected investment mobilization to USD6.7 billion across Africa, Asia, and Latin America and the Caribbean.

The annual report explores MCDF’s many “firsts”, among them its first 3 project grants in Latin America and the Caribbean, first information and knowledge sharing project grant, first project preparation grants in the telecommunications sector, and first completed MCDF grant-supported project, in Cambodia.

It furthermore spotlights the MCDF Collaboration Platform’s activities to facilitate information and knowledge sharing among its 11 IFI partners and others. This includes a comprehensive look at the 9 events it hosted in 2023, which drew 1,152 participants from 85 countries and 57 New Partners (developing country financiers).

The annual report also presents MCDF’s two key publications launched in 2023 – on sustainable financing for infrastructure and development, and climate smart-connectivity infrastructure – and upgrades to JIGSAW—MCDF’s digital solution for fostering high-quality infrastructure and connectivity investment.

“New horizons in the connectivity landscape in 2023 raised the bar for MCDF to advance high-quality connectivity imperatives and meet the equally high expectations of its donor and beneficiary countries, IFI partners, New Partners, and other stakeholders,” said MCDF CEO Zhongjing Wang.

“MCDF rose to this challenge by working closely together to deliver a larger and richer mix of connectivity infrastructure project preparation, capacity building, and information sharing activities, covering the transport and logistics, energy, and telecommunications sectors,” CEO Wang continued.

The annual report concludes by presenting MCDF’s financial results in 2023, as audited by MCDF’s external auditor.