Business Desk 
- AfDB, AIIB Partner to Boost African Infrastructure
The African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have renewed their partnership to accelerate sustainable economic development and infrastructure growth across Africa.
The agreement, a Memorandum of Understanding (MoU) building on a 2018 pact, was signed in Paris by AfDB President Dr. Akinwumi Adesina and AIIB President Jin Liqun.
This collaboration aligns with both banks’ strategic priorities, focusing on six key areas: green infrastructure, industrialization, private capital mobilization (including Public-Private Partnerships), cross-border connectivity, digitalization, and policy-based financing.
A notable example of their existing cooperation is the guarantee provided for Egypt’s first Sustainable Panda Bond in 2023, valued at RMB 3.5 billion.
This landmark issuance, the first African sovereign bond in the Chinese interbank market, was de-risked by guarantees from both triple-A-rated multilateral banks, securing competitive terms and investor confidence for Egypt.
Dr. Adesina emphasized that the partnership remains a vital pathway for economic development in member countries, particularly in infrastructure.
“By reaffirming, we are boosting energy access by accelerating Mission 300 which is targeting to connect 300 million people to electricity by 2030,” Dr Adesina said.
Mr. Jin affirmed AIIB’s commitment to supporting sustainable development beyond Asia, stating that their combined expertise will deliver transformative projects, benefiting millions and creating prosperity through quality infrastructure investment.
“Working together, we can use our combined skills to build important projects that will help millions in Africa and bring wealth through good infrastructure,” he said.
