The Asian Infrastructure Investment Bank and the OPEC Fund for International Development signed a memorandum of understanding to expand their operational and strategic cooperation to finance global public- and private-sector projects, promoting sustainable, resilient and high-standard infrastructure development.
“We look forward to further strengthening our collaboration with OPEC Fund and fostering a deeper partnership in exploring common strategic areas of interest,” said Jin Liqun, president and chair of the board at AIIB. “This MOU will allow AIIB and the OPEC Fund to leverage our respective resources to more effectively develop sustainable infrastructure projects. It will also enable AIIB to scale up efforts to unlock private capital for our members to finance Infrastructure for Tomorrow.”
To date, AIIB and the OPEC Fund have co-financed five projects of more than $1 billion in Bangladesh, Egypt, Nepal, Pakistan and Uzbekistan. The memorandum of understan