AIIB-FAO Partnership to Boost Rural Infrastructure Development

Digital technologies, innovation to enhance connectivity, improve livelihoods

DUBAI, UAE, Dec. 4, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) and the Food and Agriculture Organization (FAO) of the United Nations signed a Memorandum of Understanding that recognizes the critical role of investment in rural infrastructure, nature resources management and climate resilience in transforming agrifood systems. The two organizations will specifically collaborate on helping countries meet the ambitious targets of the 2030 Agenda for Sustainable Development.

AIIB and FAO will explore collaboration opportunities in infrastructure investments that improve water resource management, agriculture and irrigation productivity, logistics and climate change adaptation and resilience. The two organizations will focus on digital solutions and innovations that increase efficiency and productivity and preparedness. Special attention will be given to addressing the social development needs of vulnerable groups and gender issues.

"AIIB and FAO are united by our vision of realizing human prosperity through sustainable development," said Jin Liqun, AIIB President and Chair of the Board of Directors. "This partnership represents our commitment to working together to finance sustainable Infrastructure for Tomorrow. By partnering with the FAO, together we help to ensure efficient and effective use of resources and expertise across the development sector."

"I welcome this collaboration as a new step toward achieving the SDGs, particularly in areas most vulnerable to climate shocks," said FAO Director-General QU Dongyu. "Investment in infrastructure—especially in agro-infrastructure and in rural communities—contributes to economic and social development and speeds up agriculture modernization."

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

About FAO

FAO is a specialized agency of the United Nations leading efforts to end hunger and that all people have regular access high quality food to lead active, healthy lives. With over 194 member states, FAO works in over 130 countries. FAO through its Investment Centre, partners with countries and financing institutions to find investment and finance solutions that promote inclusive economic growth, healthier diets, greater equity and climate resilience.

SOURCE AIIB