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Publish Date : 02-Nov-2018

The Asian Infrastructure Investment Bank (AIIB) and the Eurasian Development Bank (EDB) have agreed to enhance collaboration in common areas of interest and support the development of projects in countries eligible to receive financial assistance from the two banks.

AIIB and EDB will cooperate in financing infrastructure projects (focusing on the transport, sustainable development, urban and energy sectors), consulting services, analysis and research. The agreement also strengthens knowledge-sharing between AIIB and EDB, including temporary assignments and staff exchanges.

"We are joining hands with EDB to address the significant infrastructure financing needs in the Eurasian region," said AIIB Vice President Joachim von Amsberg. "AIIB believes strongly in the power of partnership with other multilateral development banks because it promotes the exchange of knowledge, experience and resources with its peers."

"This agreement is an important step toward mutual efforts in delivering sustainable infrastructure in common countries of operations," said EDB Deputy Chairman of the Managing Board, State Secretary Andrey Krainiy. "We strongly welcome cooperation between our banks in addressing infrastructure needs of the region."

The agreement sets the stage for joint project financing. It will help further boost economic growth and prosperity in the region, enhance its internal and external connectivity in terms of trade, investment and business links.

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