The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund have signed a memorandum of understanding (MoU) to formalize a strategic partnership focused on advancing sustainable infrastructure in shared priority regions.
The signing ceremony took place on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, and was officiated by AIIB President Jin Liqun and Arab Fund Chairman and Director General Bader M. Alsaad.
"Our partnership with the Arab Fund represents a significant milestone in our shared commitment to sustainable development. By combining AIIB's infrastructure expertise with the Arab Fund's deep regional knowledge, we can deliver transformative projects that address the most pressing connectivity and climate challenges," said President Jin in the joint statement.
The MoU establishes a comprehensive framework for collaboration between AIIB and the Arab Fund across sovereign and non-sovereign co-financing, joint project preparation, and strategic priorities including climate resilience, cross-border connectivity, and digital infrastructure, and sustainable urban development.
"This significant partnership with AIIB will enable us to achieve our mission of financing sustainable development across the Arab region, aligning directly with the SDGs. Through this collaboration we will mobilize vital resources and strengthen our support for strategic infra-related initiatives, ultimately contributing to a more prosperous and sustainable future,” added Bader M. Alsaad, Chairman and Director General of the Arab Fund.
This partnership underscores both institutions’ commitment to deepening collaboration with regional development partners and advancing innovative, demand-driven approaches to financing sustainable infrastructure for the future.
Georgia’s busiest sea gateway has reached its capacity limit, adding urgency to plans for a major expansion of Poti port as the country seeks...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, ...
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy s...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment