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.
More News Articles
Beijing, May 19, 2023
AIIB Appoints a New External Member of its Audit and Risk Committee
The Asian Infrastructure Investment Bank (AIIB) has appointed Teresa Lin as external member of the Audit and Risk Committee (ARC) of the Board of Directors. Lin’s term follows the end of the three-year term of Ai Phing Cheng in April 2023. Elisabeth Stheeman continues to serve as external member to the ARC.
READ MOREBeijing, May 11, 2023
AIIB Issues First Climate Adaptation Bond Targeting Resilient Infrastructure
The Asian Infrastructure Investment Bank (AIIB) has successfully priced its first Climate Adaptation Bond, a thematic bond issued under the AIIB Sustainable Development Bond Framework. The 5-year bond raised AUD500 million, and the proceeds will be allocated to projects that have an estimated climate adaptation finance portion of 20 percent or greater of the total project financing.
READ MOREBeijing/London, April 27, 2023
Research Shows How AIIB-Amundi Climate Change Investment Framework Can Guide Investors
The Asian Infrastructure Investment Bank (AIIB), Amundi and Climate Bonds Initiative (CBI) announce the publication of the Companies and Climate Change report, developed by Fitch Solutions, the Carbon Trust, and CBI. This report presents the first research application of the AIIB-Amundi Climate Change Investment Framework (CCIF).
READ MOREAbu Dhabi, April 19, 2023
AIIB to Open First Overseas Office in Abu Dhabi, UAE
The Asian Infrastructure Investment Bank (AIIB) and the United Arab Emirates (UAE) signed a host member agreement to officially open in Abu Dhabi the Bank’s first overseas office, an Interim Operational Hub (the Hub). Jin Liqun, President and Chair of the Board of Directors of AIIB, joined His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB, during the signing ceremony in Abu Dhabi.
READ MORE