AIIB inks MoU with world’s largest renewable energy financier

The Asian Infrastructure Investment Bank (AIIB) and the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) have signed a Memorandum of Understanding (MOU) to deepen cooperation on financing sustainable development and promoting regional cooperation, Azernews reports, citing AIIB.

Konstantin Limitovskiy, Vice President of Investment Operations (Region 2) at AIIB, and Natalia Dias, Managing Director of BNDES, formalized the MOU. This agreement paves the way for enhanced collaboration in financing projects aligned with sustainable development goals and promoting regional connectivity.

Under the MOU, AIIB and BNDES will explore opportunities for joint financing and investment in infrastructure, trade, and connectivity initiatives spanning Asia. Moreover, they will focus on areas of mutual interest such as climate resilience. The partnership extends to project origination, resource mobilization, and knowledge exchange, particularly regarding strategies to achieve Sustainable Development Goals.

AIIB, a multilateral development bank, is dedicated to financing the Infrastructure for Tomorrow, prioritizing sustainability in all its endeavors.

Meanwhile, BNDES holds the distinction of being the world's largest financier of renewable energy, according to Bloomberg NEF research data. Its contributions in this sphere have totaled approximately $35 billion from 2004 to 2022.