04 December 2023, 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.”
