Asian Infrastructure Investment Bank (AIIB) President Jin Liqun and Agence Française de Developpement (AFD) Chief Executive Remy Rioux have signed a Memorandum of Understanding (MOU) to strengthen their collaboration.
AIIB and AFD intend to strengthen an ambitious cooperative relationship to achieve impactful and common objectives in sustainable, resilient and inclusive development. Since AIIB and AFD signed a letter of intent in 2017, they have engaged in joint activities, including collaboratively financing projects in several countries and in the Finance in Common Movement. Following a joint portfolio review in June 2021, a more regular dialogue has been taking place. The shared goal of mobilizing resources for sustainable development provides the basis for AIIB and AFD to strengthen their institutional and operational relationships.
"This MOU is a key milestone in our shared ambition to build an impactful partnership at the very moment where sustainable development is at a critical juncture. Our partnership with AFD will focus on jointly developing and scaling innovative initiatives related to climate and sustainable infrastructure," said AIIB President Jin.
The agreement aims to facilitate the prospection of joint opportunities for parallel or joint cofinancing in geographic areas of mutual interest to AIIB and AFD.
AIIB and AFD intend to collaborate in the following areas:
- Green and resilient infrastructure: To pursue their exchange on energy, transport, integrated water resources management, urban development and digital infrastructure.
- Climate change, nature and biodiversity: To work together on global and regional climate change issues (adaptation and mitigation) and on topics related to nature and biodiversity.
- Social infrastructure: To explore collaboration on health, nutrition and education infrastructure.
- Private sector investments: To enhance collaboration in private capital mobilization and private sector development.
France is a founding member of AIIB. AFD is France's development finance institution and has worked for 80 years to alleviate poverty, support economic growth and foster climate and nature resilience in both developing and emerging countries.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 106 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
