BAKU, Azerbaijan, October 29. The Asian Infrastructure Investment Bank (AIIB) and the Saudi Fund for Development (SFD) have signed a Memorandum of Understanding (MoU) to bolster cooperation on sustainable, resilient, and inclusive development projects within AIIB’s member countries and beyond, Trend reports via the AIIB.
The agreement, signed by AIIB President Jin Liqun and SFD CEO Sultan Abdulrahman Al-Marshad in Washington, D.C., coincided with the 2024 Annual Meetings of the International Monetary Fund and World Bank Group. Saudi Vice Minister of Finance and AIIB Board Director Abdulmuhsen S. Alkhalaf also attended the signing.
This collaboration aims to mobilize resources through joint project development, knowledge exchange, capacity-building programs, and coordinated communications, with a focus on tackling shared global development challenges.
Through this strategic partnership, AIIB and SFD seek to enhance their impact and deliver long-term economic benefits to countries across Asia and beyond.
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