Beijing, June 25, 2016
AIIB’s Board of Directors establish a Project Preparation Special Fund: China provides initial $50 million start-up contribution
AIIB President Jin Liqun and Chinese Vice Minister of Finance Shi Yaobin signed a Contribution Agreement today in Beijing on China’s $50 million contribution to the newly established AIIB Project Preparation Special Fund (the Fund). The Bank’s Board of Directors approved the Rules and Regulations for the Fund during its quarterly meeting on June 24, 2016. The Fund will support Bank members in preparing sound project proposals. China’s contribution, the first to the Fund, will allow it to be operational in the fall of 2016.
During the course of the Bank’s establishment, its members expressed a need for concessional resources to strengthen their project preparation capacity. The Fund is expected to provide grants to the Bank’s low and middle income member countries for preparation activities, including environmental, social, legal, procurement and technical assessments and analyses, and advisory services. The Bank will seek additional contributions to ensure the Fund’s sustainability.
"During the AIIB Inauguration, China committed to a contribution of $50 million to establish a Special Fund to support the Bank’s less developed member countries in preparing projects for AIIB financing", said Vice Minister Shi. "Today, with the signing of this Contribution Agreement, China is fulfilling that commitment. We look forward to the Fund commencing operations as soon as possible and we hope that others will also actively contribute to the Fund. We hope that the Bank Management to make every effort to ensure that these funds are used effectively to strengthen Borrowers’ capacity to prepare projects and bring good value for money."
President Jin noted, "Although Asia faces a huge infrastructure financing gap, there is a shortage of ‘shovel-ready’ bankable projects owing to the capacity limitations. Our members have highlighted these constraints during the Bank’s establishment process. I am delighted that our Board has responded to our members’ needs very quickly through the establishment of this Fund. We are very appreciative of China’s timely and generous contribution which will allow us to kick- start the Fund, and have it operational in the autumn."
Beijing, China, July 09, 2018
AIIB to Transition to New Model For Project Approvals
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a new governance model that will strengthen its role in establishing the policies and strategies of the bank and its ability to hold the President accountable for the management of AIIB. It will also delegate authority to the President to approve a select group of projects based on predetermined criteria. This new model is expected to enhance efficiency and make the President more responsible and accountable to the shareholders for AIIB’s operations.READ MORE
Beijing, China, July 03, 2018
AIIB Approves $250M to Modernize, Rehabilitate Irrigation in Indonesia
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved a USD250 million loan to improve irrigation services and management accountability in Indonesia.READ MORE
Ankara, Turkey, June 27, 2018
AIIB Approves First Loan in Turkey; USD600M Investment to Improve Gas Supply
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved a USD600-million loan to increase the reliability and security of Turkey’s gas supply. The project, cofinanced with the World Bank, is AIIB’s first project to be financed in Turkey.READ MORE