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, 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