The Asian Infrastructure Investment Bank (AIIB) and Saudi Arabia have signed a joint declaration of intent to advance sustainable infrastructure investments across the region. The agreement, formalized at the Conference for Emerging Market Economies in Al-Ula, marks a significant step in AIIB’s expansion in the Middle East and North Africa (MENA).
Investment Strategy
The partnership aims to mobilize financing for key projects, including:
Related Article: AIIB and World Bank Renew Partnership to Boost Infrastructure and Support Sustainable Development Goals
The framework also paves the way for AIIB to expand nonsovereign-backed operations through public-private partnerships.
“Today’s declaration marks a pivotal step in strengthening AIIB’s partnership with Saudi Arabia and the wider region,” said Konstantin Limitovskiy, AIIB Chief Investment Officer, Public Sector (Region 2) & Global Project and Corporate Finance Clients. “This investment pipeline will channel long-term financing into sustainable infrastructure, enhancing connectivity, resilience, and economic growth across the region.”
Konstantin Limitovskiy, AIIB Chief Investment OfficerStrengthening Regional Ties
Saudi Arabia views this collaboration as a means to align strategic investments with its long-term development vision.
“Our collaboration with AIIB reflects Saudi Arabia’s commitment to shaping a sustainable and interconnected regional economy,“ said H.E. Abdulmuhsen Alkhalaf, Saudi Vice Minister of Finance and AIIB Board Director. “By aligning strategic investments with our long-term development vision, this initiative will drive national progress and also support economic integration and shared prosperity across the region.“
Abdulmuhsen Alkhalaf, Saudi Vice Minister of Finance and AIIB Board DirectorNext Steps
Each party will designate a focal point to coordinate engagement with stakeholders, ensuring investment priorities remain relevant through semi-annual reviews.
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