The MoU allows the two parties to collaborate, share information and exchange knowledge on development finance, Islamic finance and integrity mechanisms
The Islamic Development Bank Group (IsDB Group) and the Asian Infrastructure Investment Bank (AIIB) signed an MOU establishing a framework for strategic cooperation, seeking to co- finance projects in common areas of operations.
The partnership will focus on sustainable infrastructure including development of energy and power, transportation and telecommunications, rural infrastructure water supply and sanitation, environmental protection, urban development and logistics, Zawya reported.
“We strongly believe in the power of innovation, science and technology to stimulate growth and will ensure this is a key area of collaboration for the banks going forward,” said HE Dr. Bandar M.H. Hajjar, IsDB Group President, according to Zawya.