World Bank and Aiib Sign Deal

• Proeksa Meas
• 10 July 2016
• Construction Focus
• 1490 Views

The World Bank and the new Chinese-led Asian International Investment Bank (AIIB) have signed a $1.2 billion deal to co-fund infrastructure projects in 2016.

The agreement is an important symbol that US-dominated global financial bodies have accepted the AIIB has an important role to play in financing the development of regional infrastructure.

The World Bank said that the two banks are discussing “nearly one dozen” co-financed projects in sectors that include transport, water and energy in Central Asia, South Asia and East Asia.

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EN-US;mso-fareast-language:EN-US;mso-bidi-language:KHM”>Cambodia has indicated it would be interested in applying for AIIB funds to help develop its infrastructure