BAKU, Azerbaijan, January 24. The Asian Infrastructure Investment Bank (AIIB) and the Islamic Development Bank (IsDB) Group have officially endorsed a memorandum of understanding (MOU), building upon an initial agreement inked in 2018, Trend reports via the AIIB.
This MOU aims to renew and enhance the existing framework of cooperation, emphasizing co-financing activities with a specific focus on: fortifying sustainable and climate-resilient infrastructure; bridging the digital infrastructure gap in Asia; fostering regional cooperation through cross-border trade and connectivity, and facilitating collaborative efforts to amplify resource mobilization.
Within the context of this MOU, both entities have expressed their intent to collaboratively formulate an action plan grounded in the agreed-upon focus areas.
Additionally, there is a commitment to exploring further opportunities for collaboration in areas of mutual interest.
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