The Export-Import Bank of China and the Asian Infrastructure Investment Bank (AIIB) signed the MOU on cooperation and agreements on the green on-lending facility project in Beijing on October 13. China Eximbank’s Chairman Wu Fulin and AIIB’s President Jin Liqun, attended and addressed the signing ceremony. Zhang Wencai and Ludger Schuknecht, Vice Presidents of two sides, signed the MOU on cooperation, and representatives of both sides signed the Loan Agreement and MCDF Grant Agreement of China Eximbank Green On-Lending Facility Project.

Chairman Wu said in his speech that the two sides are highly compatible in many fields such as new infrastructure and green development, and have great potential for cooperation in promoting sustainable infrastructure construction. The MOU on cooperation reflects the strategic consensus between the two banks and lays the foundation for future cooperation, while the Green On-Lending Facilities kick off the substantive cooperation on projects. It is hoped that the project can serve as a good example for international green finance cooperation, and that both sides continue to work together to explore diversified ways of cooperation. He expected two banks to expand business cooperation not only in China but also in the third-party market, helping support infrastructure connectivity and sustainable economic development in relevant countries.

President Jin described China Eximbank as an important partner for AIIB, and said that the MOU would formalize the strategic partnership. As AIIB’s first on-lending investment project in China, the Green On-Lending Facility Project is piloting the use of ESG standards to facilitate high-quality cooperation. Looking forward, both sides should further leverage comparative strengths in cooperation, and unlock more private capital for post-pandemic recovery.

The MOU signed will help both banks focus on key countries and areas, strengthen cooperation through various means including co-financing, parallel financing, equity investment, guarantee, knowledge sharing, personnel exchange and joint research, so as to further deepen the relationship between the two sides and push forward overall cooperation. The Green On-Lending Facilities will be used to support the construction of domestic green projects, which is of great significance for China Eximbank to learn from international standards of green credit management and help achieve the dual carbon goals.

Konstantin Limitovskiy, Vice President of AIIB, attended the ceremony virtually. Representatives from both banks attended the ceremony.