The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding (MoU) with the Export-Import Bank of the Republic of China (Taiwan).

The parties have agreed to “promote projects that support sustainable economic infrastructure development from central Europe to central Asia and in the southern and eastern Mediterrean,” says the EBRD in a statement.

Under the terms of the MoU, the two organisations will look to working together in sectors such as power and renewable energy, natural resources, transport, infrastructure, telecommunications and information technology.

At the signing ceremony, EBRD president Suma Chakrabati said: “[This MoU] provides a framework for important co-operation and exchange of information, in order to undertake joint investments in economically sustainable projects by Taiwanese companies in the countries where the EBRD operates.”