The Asian Infrastructure Investment Bank (AIIB) and the World Bank have signed a renewed memorandum of understanding to enhance collaboration on infrastructure development and support the achievement of the Sustainable Development Goals.
The agreement, signed by AIIB president Jin Liqun and World Bank president Ajay Banga during the 2024 IMF and World Bank Spring Meetings in Washington, D.C., outlines a framework to deepen operational collaboration between both institutions in key areas of shared strategic importance, with the aim of enhancing sustainable economic development and addressing global challenges.
Building upon the previous memorandum signed in 2017, the renewed agreement outlines enhanced areas of collaboration, such as climate change, social infrastructure (with a focus on health), biodiversity and other mutually agreed areas. The cooperation between the two multilateral development banks aims to lift lending capacities, promote sustainable development pr