The Asian Infrastructure Investment Bank (AIIB) this week signed cooperation agreements with two leading global partners as part of its ongoing commitment to expand collaboration with the international community.
On the sidelines of the Bank’s fourth Annual Meeting in Luxembourg, AIIB and the European Stability Mechanism (ESM) agreed to a memorandum of understanding (MoU), which covers technical cooperation, exchange on economic and policy strategy, funding, risk management and legal services.
The MoU signed by AIIB President Jin Liqun also supports greater knowledge sharing between the two institutions as well as staff exchanges.
President Jin signed a separate MoU with the International Fund for Agricultural Development (IFAD) to partner in several areas, including co-financing of projects and programs, mobilization of private sector financing and research and analysis.
The MoU with the specialized agency of the United Nations has a strong focus on the development of rural infrastructure, renewable energy sources, and climate change adaptation and mitigation - key concerns underpinning the Sustainable Development Goals.
“Partnership continues to be a fundamental operating principle of the Bank,” said President Jin.“By working together with ESM and IFAD on joint initiatives and leveraging each other’s expertise we will strengthen our capacity to deliver on our respective missions and benefit our members.”
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 97 approved members worldwide.
By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.