- Strategic Partnership: AIIB and Saudi Arabia sign a declaration to drive sustainable infrastructure investments.
- Focus Areas: Energy, transport, water, urban development, and renewable energy projects.
- Long-Term Growth: Establishes a framework for public-private partnerships and multi-year investment planning.
The Asian Infrastructure Investment Bank (AIIB) and Saudi Arabia have signed a joint declaration of intent to advance sustainable infrastructure investments across the region. The agreement, formalized at the Conference for Emerging Market Economies in Al-Ula, marks a significant step in AIIB’s expansion in the Middle East and North Africa (MENA).
Investment Strategy
The partnership aims to mobilize financing for key projects, including:
- Power generation and transmission
- Sustainable transport
- Water supply and sanitation
- Urban development
- Renewable energy with storage
Related Article: AIIB and World Bank Renew Partnership to Boost Infrastructure and Support Sustainable Development Goals
The framework also paves the way for AIIB to expand nonsovereign-backed operations through public-private partnerships.
“Today’s declaration marks a pivotal step in strengthening AIIB’s partnership with Saudi Arabia and the wider region,” said Konstantin Limitovskiy, AIIB Chief Investment Officer, Public Sector (Region 2) & Global Project and Corporate Finance Clients. “This investment pipeline will channel long-term financing into sustainable infrastructure, enhancing connectivity, resilience, and economic growth across the region.”
Strengthening Regional Ties
Saudi Arabia views this collaboration as a means to align strategic investments with its long-term development vision.
“Our collaboration with AIIB reflects Saudi Arabia’s commitment to shaping a sustainable and interconnected regional economy,“ said H.E. Abdulmuhsen Alkhalaf, Saudi Vice Minister of Finance and AIIB Board Director. “By aligning strategic investments with our long-term development vision, this initiative will drive national progress and also support economic integration and shared prosperity across the region.“
Next Steps
Each party will designate a focal point to coordinate engagement with stakeholders, ensuring investment priorities remain relevant through semi-annual reviews.
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