EDB, WB tie up for Global Infrastructure Facility

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The Eurasian Development Bank (EDB) and the World Bank Group (WB) have signed a collaboration arrangement to establish the “Global Infrastructure Facility (GIF) Partnership Programme”. The objective of the GIF is to pool resources necessary to find solutions to significant national infrastructure tasks and to implement large and complex projects with the prospective involvement of private capital. The GIF intends to provide resources to prepare well-structured infrastructure projects and to serve as an additional mechanism for accessing the expertise of all GIF partners in combination with guidance from prospective private sector financiers into project structures. In their collaboration arrangement, EDB and the WB agreed to take measures to develop cooperation in establishing the GIF. This work will involve, in particular, the determination of management options, operating mechanisms, areas of operation and sources and uses of the GIF funds, including project selection criteria. The parties also agreed to coordinate their efforts in this area and to share best practices and their experience in preparing infrastructure projects.

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