Beijing, December 11, 2017
AIIB invests in nationwide fiber broadband network in Oman
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved up to US$239.2-million in senior debt to develop communications infrastructure that will help Oman shift its economy away from a reliance on the export of hydrocarbons.
AIIB’s loan for the construction and operation of the first phase of a nationwide fiber broadband network–the Oman Broadband Company’s Oman Broadband Infrastructure Project–will reinforce the foundation of the country’s National Broadband Strategy, which is focused on building communications infrastructure accessible to telecommunication companies and wholesale users.
“This non-sovereign debt investment is a great example of AIIB’s increasing capacity to independently structure financing in innovative ways,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “In addition, the loan will be partially syndicated and will demonstrate AIIB’s ability to introduce private investors to new markets and new project types to support the development of vital national infrastructure. Not only will the new broadband infrastructure support local families and businesses, we’re confident it will increase Oman’s attractiveness as a designation for manufacturing businesses and strategic logistics services.”
AIIB’s investment will support phase one of the project which will focus on Muscat and other urban areas. Phase one will see the rollout of fiber optical broadband cable to approximately 406,000 residences and businesses by the end of 2021. Upon completion of phase one, 80% of Muscat will be fiber-ready for connection with gigabit-capable optical networks.
This is AIIB’s first stand-alone non-sovereign-backed limited recourse financing that involves mobilization of private capital through syndication.
Additional information and the project’s Environmental and Social Management Plan can be found at https://www.aiib.org.
Beijing, December 19, 2017
AIIB Approves Membership of Cook Islands, Vanuatu, Belarus and Ecuador
The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has adopted resolutions approving four applicants to join the Bank, bringing AIIB’s total approved membership to 84. This round of approved applicants includes two regional and two nonregional prospective members.READ MORE
Beijing, December 16, 2017
UK Government Pledges US$50 million to AIIB Project Preparation Special Fund
Asian Infrastructure Investment Bank (AIIB) President Jin Liqun and United Kingdom (UK) Chancellor of the Exchequer Rt Hon Philip Hammond have signed an agreement for the UK to contribute US$50 million to AIIB’s Project Preparation Special Fund which provides grant support primarily to low income developing member countries to prepare high quality projects.READ MORE
Beijing, December 12, 2017
Together Major Development Finance Institutions Align Financial Flows with the Paris Agreement
The global development agenda is being transformed in fundamental ways. The Sustainable Development Goals (SDGs), agreed upon by the international community, constitute a universal compass, highlighting the need for systemic and collective action for sustainable, equitable and inclusive development for everyone on this planet. The imperative for mobilizing and shifting financial flows, public and private, towards sustainable development was highlighted by the 2015 Addis-Ababa Financing for Development Conference. The Paris Agreement reached at COP21 recognized that all countries and stakeholders must act to combat climate change. Since the Agreement’s entry into force in 2016, the momentum for climate action has become irreversible.READ MORE