AfDB and AIIB Renew Collaboration on Sustainable Infrastructure in Africa

The African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have signed a Memorandum of Understanding (MOU) renewing their collaboration to promote sustainable economic development in Africa.

• The MOU focuses on six priority areas: green infrastructure, industrialization, private capital mobilization including Public-Private Partnerships, cross-border connectivity, digitalization, and policy-based financing, aligned with AfDB’s Ten-Year Strategy 2024–2033 and AIIB’s Corporate Strategy.
• The partnership includes co-financing, co-guaranteeing, and joint financial assistance for sustainable infrastructure projects, exemplified by their guarantees supporting Egypt’s first Sustainable Panda Bond issuance in 2023 valued at RMB 3.5 billion.

This renewed collaboration aims to accelerate infrastructure development and economic opportunities across Africa, including boosting energy access to connect 300 million people to electricity by 2030 under Mission 300.