The Asian Infrastructure Investment Bank (AIIB) and the European Bank for Reconstruction and Development (EBRD) are streamlining their cooperation to promote economic development and investment across countries where both institutions are active.
A new co-financing framework agreement (CFA) that will enable the two banks to harmonize their operational policies and procedures was designed to help achieve the highest social, environmental and legal standards.
The agreement will speed up the preparation of joint co-financed investment projects and their implementation, and it will allow member-countries and clients to focus on preparing their projects on the basis of one set of specific requirements. This will improve the efficiency of investment operations and thus achieve lower costs for clients and a greater development impact in terms of the green economy, digitalization and inclusion.
“By simplifying this crucial aspect of multilateral cooperation, we will b