AIIB signs MoU with New Development Bank

On 1 April, the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) signed a MoU in New Delhi, India, during the Second Annual Meeting of the NDB. The MoU provides a comprehensive framework to deepen and strengthen cooperation in areas of mutual interest, such as infrastructure and sustainable development. The MoU will also enable the two banks to partner on co-financing opportunities and knowledge sharing.

Both banks share much in common: Founded outside the traditional Bretton Woods system, both banks’ HQ are based in Asia and their voting structures don’t favour Western involvement as the World Bank and IMF do.

Dr. Joachim von Amsberg, Vice President of the AIIB, will brief Asia House corporate members on 1 June about the role and future strategy of the AIIB.