AIIB, CIDCA to Boost Development Benefits in Tajikistan

The Asian Infrastructure Investment Bank (AIIB) and the China International Development Cooperation Agency (CIDCA) have signed an agreement to collaborate on promoting vocational training and women's development as part of the Obigarm-Nurobod Road Project - Long Bridge and Approaches in Tajikistan.

The agreement was signed by AIIB Vice President for Policy and Strategy, Sir Danny Alexander and CIDCA Vice Chairman, Zhao Fengtao during the Second High-level Conference of the Forum on Global Action for Shared Development.

The partnership is a significant step in enhancing the development benefits of the AIIB-approved loan by leveraging CIDCA's grant financing capabilities. CIDCA has expressed its willingness to consider providing grant financing to AIIB through the Global Development and South-South Cooperation Fund for the implementation of the Project. The grant is expected to be channeled through AIIB's newly established Project Specific Window (PSW), designed to receive grant contributions for earmarked AIIB projects.

"This collaboration with CIDCA exemplifies how AIIB can mobilize diverse financing to add value for our clients and their people," said AIIB Vice President Alexander. "By leveraging CIDCA's grant financing, we can extend the benefits of our approved loan and reach a broader group of beneficiaries in Tajikistan."

"We are committed to promoting sustainable development and poverty alleviation through international cooperation," added CIDCA Vice Chairman Zhao. "This partnership with AIIB aligns with our mission to support the Global Development Initiative and advance shared development goals."

In July 2023, AIIB and CIDCA signed a Memorandum of Understanding to jointly accelerate the attainment of the United Nations Sustainable Development Goals. AIIB and CIDCA will collaborate in addressing climate change to realize the 2030 Agenda for Sustainable Development. CIDCA's grants resources will support preparation and financing of AIIB projects that are prepared with the highest international standards and in line with the Bank's strategy and policies.

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank dedicated to financing the Infrastructure for Tomorrow-infrastructure with sustainability at its core. Operational since January 2016 and boasting 109 approved members worldwide, AIIB is capitalized at USD 100 billion and Triple-A-rated by 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 CIDCA

The China International Development Cooperation Agency (CIDCA) is the foreign aid and international development agency of the People's Republic of China. It is a deputy ministerial-level agency affiliated with the State Council. CIDCA aims to formulate strategic guidelines, plans and policies for foreign aid, coordinate and offer advice on major foreign aid issues, advance China's reforms in matters involving foreign aid, and identify major programs and supervise and evaluate their implementation.