China News Service, July 8, according to the Ministry of Finance website, on June 30, with the approval of the Board of the Asian Infrastructure Investment Bank, the Asian Infrastructure Investment Bank formally served as the custodian of the Multilateral Development Finance Cooperation Center (MCDF) fund and MCDF project The executive agency will form a secretariat to support the daily operation of the MCDF. So far, the Multilateral Development and Financing Cooperation Center (MCDF) fund has been formally established and will better support MCDF in its work.
The initiative to establish MCDF is an important achievement of the first “Belt and Road” International Cooperation Summit Forum in 2017. As a multilateral development cooperation platform in the field of infrastructure interconnection, MCDF will support the construction of infrastructure interconnection including the “Belt and Road” initiative by promoting information sharing, supporting project preparation and capacity building.
It is reported that China, Egypt, Saudi Arabia, Hungary, Cambodia, and the Philippines have jointly committed to donate a total of US$180.2 million to the MCDF fund.