The Asian Infrastructure Investment Bank and the European Investment Bank today agreed to broaden cooperation to support investment in strategically important projects, seek to jointly finance projects and increase cooperation in countries where both institutions are active.
"I am delighted to sign this framework of cooperation with the European Investment Bank as a sign of our expanding partnership in addressing the monumental infrastructure financing needs around the world," Asian Infrastructure Investment Bank President Jin Liqun said. "AIIB was created with the goal of promoting regional cooperation and partnership in addressing development challenges, and we no doubt have a strong partner in EIB. Through joint efforts we can be a steadying force in this complex global economic environment and create enduring positive development outcomes."
"International Financial Institutions play a crucial role supporting long-term investment that improves crucial infrastructure, supports job creation and improves lives. I am pleased that the already fruitful cooperation between European Investment Bank and Asian Infrastructure Investment Bank colleagues can be strengthened. I look forward to working together with President Jin and his team to address challenges that no single institution can overcome alone, such as tackling climate change, ensuring sustainable transport and providing clean water. The framework signed today will enable more effective cooperation between our respective institutions." said Werner Hoyer, President of the European Investment Bank.
The AIIB and the EIB have already established a strong track record of cooperation, including through the sharing of technical and financial expertise. The new framework, which was signed by President Jin and President Hoyer at the AIIB’s headquarters in Beijing, will build on this cooperation, including through streamlining the joint financing of projects and ensuring regular dialogue between the two institutions.
EIB President Hoyer is currently on a five-day official visit to China, the focus of which is strengthening the EIB’s partnership with China on addressing Climate Change. The EIB is the world’s largest lender for climate related investment and global leader in issuing green bonds.
Background:
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
The Asian Infrastructure Investment Bank (AIIB), located in Beijing, is a multilateral development bank that focuses on the development of infrastructure and other productive sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics.
