COP28: New AIIB-FAO partnership to boost rural infrastructure development to transform agrifood systems

Dubai – The Food and Agriculture Organization of the United Nations (FAO) and the Asian Infrastructure Investment Bank (AIIB) signed a Memorandum of Understanding (MOU) today, which recognizes the critical role that investment in rural infrastructure, natural resources management and climate resilience plays in transforming agrifood systems.  The two organizations will specifically collaborate on helping countries meet the ambitious targets of the 2030 Agenda for Sustainable Development.  

Through this agreement, signed on the sidelines of the UN Climate Climate Change Conference COP28, the AIIB and FAO will explore opportunities to collaborate on infrastructure investments to improve water resource management, agriculture and irrigation productivity, logistics, and climate change adaptation and resilience. The two organizations will focus on digital solutions and innovations that increase efficiency and productivity and preparedness.  In addition, special attention will be paid to addressing the social development needs of vulnerable groups and gender issues.

FAO Director-General QU Dongyu said: “I welcome this collaboration as a new step towards achieving the SDGs, particularly in areas most vulnerable to climate shocks. Investment in infrastructure, especially in agro-infrastructure and in rural communities contributes to economic and social development and speeds up agriculture modernization.”

“AIIB and FAO are united by our vision of realizing human prosperity through sustainable development,” said Jin Liqun, AIIB President and Chair of the Board of Directors. “This partnership represents our commitment to working together to finance sustainable Infrastructure for Tomorrow. By partnering with the FAO, together we help to ensure the efficient and effective use of resources and expertise across the development sector.”

About FAO

FAO is a specialized agency of the United Nations leading efforts to end hunger and that all people have regular access high quality food to lead active, healthy lives. With over 194 member states, FAO works in over 130 countries. FAO through its Investment Centre, partners with countries and financing institutions to find investment and finance solutions that promote inclusive economic growth, healthier diets, greater equity and climate resilience.

About AIIB

AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, the Bank began operations in January 2016 and has now grown to 109 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, AIIB will better connect people, services and markets that over time will impact the lives of billions and build a better future.

Source : Fao