EBRD, AIIB streamline co-financing procedures
The European Bank for Reconstruction and Development and the Asian Infrastructure Investment Bank are streamlining their cooperation to promote economic development and investment across countries where both institutions are active.
A new co-financing framework agreement will speed up the preparation of joint co-financed investment projects and their implementation. It will allow member-countries and clients to focus on preparing their projects on the basis of one set of specific requirements. The two lenders say this will improve the efficiency of investment operations, achieving lower costs for clients and a greater development impact in terms of the green economy, digitalisation and inclusion.
Examples of streamlining include the future application of well-established EBRD instruments such as the Environmental and Social Policy and the Procurement Policies and Rules in co-financed projects.
