The Asian Infrastructure Investment Bank (AIIB), the Asian Development Bank (ADB) and the ASEAN Infrastructure Fund (AIF) have signed a letter of intent (LOI) to enhance collaboration on ASEAN-related infrastructure initiatives, reaffirming the three institutions’ commitment to jointly supporting sustainable and resilient infrastructure development in the region. The signing took place during the launch of AIF Action Plan 2025–2028, held in conjunction with the 12th ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM) 2025 on April 10. It was witnessed by the Malaysian Finance Minister II Datuk Seri Amir Hamzah Azizan, ADB President Masato Kanda and heads of 10 ASEAN member states and Timor-Leste delegation.
The LOI outlines a framework for cooperation in financing high-impact infrastructure projects across ASEAN through AIF initiatives with respect to the ASEAN Power Grid (APG), the ASEAN Catalytic Green Finance Facility (ACGF) and beyond. It marks a significant step toward deeper engagement among the three parties, leveraging their collective expertise and resources, including aligning and pooling AIIB and ADB technical assistance, to accelerate the development of sustainable, inclusive and climate-resilient infrastructure.
“AIIB is committed to strengthening partnerships with ADB and AIF to drive impactful infrastructure investments in the region, particularly through the APG and ACGF,” said Rajat Misra, AIIB Acting Chief Investment Officer (Region 1). “Through this collaboration, we aim to mobilize financing for critical projects that will enhance connectivity, economic resilience and sustainable growth in ASEAN”.
“Partnerships are core to ADB’s support for Southeast Asian countries,” said Winfried Wicklein, ADB Director General for Southeast Asia Department. “By partnering with AIIB, we can enhance the scale and impact of infrastructure investments under AIF, promoting sustainable and inclusive growth at an important time for ASEAN”.
“AIF, in cooperation with ADB and AIIB, will strengthen its role as a catalyst for enhancing regional infrastructure and mobilizing financial resources,” said Alfredo Perdiguero, AIF Administrator. “We are excited to work with to support ASEAN infrastructure priorities, including cross-border projects”.
The partnership will focus on partner dialogue, project origination and structuring, co-financing opportunities, technical cooperation and knowledge sharing in the areas of transportation, digitalization and energy, including projects linked to the ASEAN Power Grid and ACGF.
This LOI builds on AIIB’s growing engagement in Southeast Asia and underscores its strategic commitment to regional connectivity and sustainable development. AIIB and ADB will continue working together to identify and implement projects that drive long-term economic and social benefits across ASEAN.
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
About ADB
ADB is a leading multilateral development bank supporting sustainable, inclusiveand resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructureand safeguard our planet.
Founded in 1966, ADB is owned by 69 members—49 from the region.
About AIF
The Association of Southeast Asian Nations (ASEAN) member countries, together with ADB, founded the ASEAN Infrastructure Fund Ltd. (AIF) in 2012. AIF is an innovative ASEAN initiative established to mobilize regional resources to finance infrastructure development in ASEAN member countries. AIF helps promote regional infrastructure financing and financial resilience to support the long-term development of ASEAN member countries. To date, AIF’s investments have supported projects with a combined $9 billion in capital expenditure across six ASEAN countries.
