World Bank, AIIB deepen cooperation

|By:, SA News Editor

Partner or rival? The World Bank and AIIB have agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical work, development financing and country-level coordination.

The memorandum of understanding, which discusses more projects to be co-financed in 2017/2018, comes a year after the two multilateral lenders established mechanisms for cost-sharing of investment projects.