AfDB and AIIB discuss potential for ICA collaboration
17 September 2018
Representatives from the Infrastructure and Partnerships Division of the African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) met in Beijing earlier this month to discuss ICA membership and potential areas of collaboration and partnership.
The institutions discussed issues and opportunities around sustainable infrastructure development in Africa, including project preparation and the need for capacity building within African stakeholders, and the ICA’s knowledge products.
Positive feedback was given by the AIIB about the potential opportunity to join the Infrastructure Consortium for Africa and the Project Preparation Facilities Network (PPFN), which the ICA established in 2014 to advocate for increased resources for infrastructure project preparation in Africa. The outcomes of the meeting will be formalised in a Memorandum of Understanding under discussion between the AfDB and the AIIB.
The Asian Infrastructure Investment Bank is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond, including Africa. Active since 2016, the AIIB has grown to 87 members from around the world including Ethiopia, Egypt and Madagascar; South Africa and Kenya are currently in the process of becoming members.
The AIIB offers financing for projects in energy, transportation, water supply and sanitation, telecommunications, rural infrastructure, agriculture development, environmental protection and urban development.