AIIB, FONPLATA to Explore Energy Transition Cofinancing Opportunities in Asia, Latin America and Beyond

December 04, 2023 02:20 PM AEDT | By Cision

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AIIB, FONPLATA to Explore Energy Transition Cofinancing Opportunities in Asia, Latin America and Beyond — Image source: Kalkine Media

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DUBAI, UAE, Dec. 4, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) has signed a Memorandum of Understanding with FONPLATA Development Bank (FONPLATA) to strengthen strategic collaboration and explore cofinancing opportunities in Asia, Latin America and beyond.

The agreement was forged on Dec. 2, 2023 during COP28 in Dubai. Signing the MOU were Sir Danny Alexander, AIIB Vice President of Policy and Strategy and Mariana Prado Noya, FONPLATA´s Executive Vice President. AIIB and FONPLATA commit to promote joint initiatives in sustainable infrastructure, energy transition and climate change, among others. The collaboration aligns with the goals of the Paris Agreement and the 2030 Agenda for Sustainable Development, which aim to create sustainable pathways for countries and multilateral institutions.

"The partnership reflects the shared commitment of AIIB and FONPLATA to enhance development cooperation," said Alexander of AIIB. "With common members in Latin America, we look forward to working together to identify common ways to support actions on tackling climate change, enhancing connectivity, and sharing knowledge and experiences."

"We are grateful for AIIB's confidence in FONPLATA to enter into this partnership, which will enable us to identify cofinancing opportunities for infrastructure, trade, connectivity and climate projects. This joint cooperation will facilitate strategic, technical and operational exchanges between the two banks, bringing the two regions closer together," said Prado of FONPLATA.

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 FONPLATA

FONPLATA is a Development Bank made up of five countries: Argentina, Bolivia, Brazil, Paraguay and Uruguay. Its main goal is to support the integration of the member countries to achieve a harmonic and inclusive development, through credit operations and non-reimbursable government resources. FONPLATA aims at reducing socioeconomic disparities and favoring the complementarity and synergy of efforts of national development organizations and other development agencies through the implementation of small- and medium-sized projects in specific geographic areas.

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