Skip to main content

Islamic Development Bank signs MoU with AIIB at Mumbai for Infrastructure Investments

For the first time, the Asian Infrastructure Investment Bank (AIIB) and the Islamic Development Bank Group (IsDB Group) have come together to sign a Memorandum of Understanding (MOU) to establish a framework for strategic cooperation, including actively seeking to co- finance projects in common areas of operations. The comprehensive theme of the MOU will be “Mobilizing Financing for Infrastructure: Innovation & Collaboration”.

will have a strong 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.

Signed during AIIB’s Third Annual Meeting in Mumbai, the MOU deepens the relationship between the two banks, allowing them to foster collaboration, share information and facilitate knowledge exchanges on development finance, Islamic finance and integrity mechanisms. The MOU will have a strong 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.

Related Posts

“An agreement between our banks is a natural fit because we are both dedicated to development and helping our members promote growth and economic opportunity,” said AIIB President Jin Liqun. “We have complementary skill sets and expertise. We believe working together on joint investments and initiatives will strengthen our capacity to deliver on our respective missions and benefit our members.”

“We are delighted to strengthen our partnership with AIIB,” said IsDB Group President H.E Dr. Bandar M.H. Hajjar. “We have a number of common member countries in Asia and also in Africa and a significant overlap in sectors and financing activities. IsDB Group looks forward to jointly strengthening the effectiveness and sustainability of our banks’ operations and to looking for new ways to stimulate the region’s economic growth together. 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.”

This partnership between the two banks is an example of the importance they both place on partnerships and how they are key to their growth in the future.

The MOU creates opportunities for better communication and working relationship between AIIB and IsDB Group. Among other activities, the banks intend to share knowledge and exchange experiences among employees through joint temporary assignments, secondments and training.

Credits: ISDB Press

The post Islamic Development Bank signs MoU with AIIB at Mumbai for Infrastructure Investments appeared first on ConstructionPlacements.



from ConstructionPlacements https://ift.tt/2lHedmD
via Handy Rep Ai
Labels:

Comments

Post a Comment

Popular posts from this blog

List of Best Construction Companies in Bengaluru

Bangalore city which is now renamed as Bengaluru city is one of the biggest IT hubs in India. Bengaluru city has attracted many top construction companies in India to construct huge IT parks across the Bengaluru city. We have compiled a list of best construction companies in Bengaluru so that job seekers who are looking for civil engineering jobs can directly visit the job page of this top construction companies in Bengaluru and apply to appropriate jobs. Scope of top construction companies in Bengaluru Apart from building big IT parks, these leading construction companies in Bengaluru are also involved in construction of residential apartments in Bengaluru area, flats in Bengaluru city, big retail outlets in Bengaluru, hotels in Bengaluru, malls in Bengaluru, commercial spaces in Bengaluru etc. That is why in addition to big construction companies in Bengaluru, this city has also attracted top Architecture companies in India, best construction contractors in India, top scaffoldin...
19 comments
Read more

12 Fast-Growing Shrubs to Plant This Fall

Though spring is traditionally the biggest season for planting, fall is a great time to get in new shrubs. When planted at least a few weeks before the first frost, they have time to get their roots established before winter dormancy, and will be ready to burst forth with foliage and blooms in spring. Check out some of our favorite fast-growing shrubs you should consider planting this fall. from Bob Vila : Trusted Home Renovation & Repair Expert https://ift.tt/2xCFQnv via Handy Rep Ai
Post a Comment
Read more

Volvo CE unveils ZEUX: How a LEGO model designed with kids became a prototype for a real autonomous wheel loader

The ZEUX autonomous wheel loader concept employs a scout drone and an adjustable, boom-mounted camera called The Eye, to keep track of its surroundings and indicate focus to nearby humans. Of all the major heavy equipment manufacturers, none has been more outwardly committed to bringing futuristic, autonomous and electrified machines to real-world quarries and jobsites than Volvo. For the last few years, Volvo has been publicly sharing updates on the progress of autonomous machine prototypes like its HX2 carrier (a cab-less, self-driving dump truck) and LX1 wheel loader, and electrified prototypes like the EX1 cable-connected excavator. And though Volvo has plans to get the latest versions of those machines working at a real Skanska quarry this fall, the company isn’t letting up on its push for innovation. The manufacturer even found an opportunity to use its partnership with LEGO to inform the design of its future machines. This week, Volvo and Lego, which have partnered on high...
Post a Comment
Read more