Beijing, China, December 20, 2019
AIIB Approves USD145M Irrigation, USD65M Solar Investments in India
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a USD145-million loan to India to improve irrigation service delivery and strengthen flood risk management in West Bengal. Earlier this month, AIIB President Jin Liqun also approved a USD65-million 250-megawatt (MW) solar power project in Jodhpur.
West Bengal has 37,660 square kilometers of flood-prone areas out of a total area of 88,752 square kilometers. An analysis of the floods over the last 41 years shows that the eastern state has faced severe floods in all but five years. Another concern is the potential threat of climate change, which may have complex implications on water availability and amplify challenges for 70 percent of the local population dependent on agriculture.
The project, cofinanced with the World Bank, is expected to strengthen the management of the Damodar Valley Command Area irrigation scheme to improve service delivery and efficiency. The funds will also be used to modernize irrigation infrastructure at main, branch, distributary and minor canal levels and invest in structural measures to reduce flooding in the project area.
“This investment will help thousands of farmers get adequate water through scientific water conservation and distribution methods,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “To support proper irrigation of the affected area, this project will also help build local technical capacity to improve water service delivery and efficient use.”
Meanwhile, as part of ongoing efforts to mobilize private capital for infrastructure, President Jin also approved a USD65-million 250-MW solar power project in Jodhpur, the second largest city in the northwestern Rajasthan state. Hero Future Energies, an independent power producer, is developing the project via its special purpose vehicle Clean Solar Power (Jodhpur) Private Limited. The project will add 250 MW of solar capacity and result in clean energy generation of 616 MWh in 2022.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 100 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.
Beijing, China, October 23, 2020
AIIB Support Helps Keep Russia’s Railways on Track
To help alleviate the temporary liquidity constraints caused by the decline of long-haul passenger transportation and deferred client payments against the backdrop of the COVID-19 outbreak, AIIB is extending financing to Russian Railways (RZD) in the local currency equivalent of USD300 million.READ MORE
London, UK, October 14, 2020
AIIB debut in GBP market unlocks new financing for sustainable development
The Asian Infrastructure Investment Bank (AIIB) today priced its first GBP-denominated benchmark transaction. The five-year sustainable development bond raised GBP 800 million and will finance AIIB’s mission of financing infrastructure for tomorrow – investing in sustainable infrastructure to unlock new capital, new technologies and new ways in which to address climate change and to connect Asia, and the world.READ MORE
Beijing, China, September 28, 2020
AIIB Approves USD150-M Loan to Improve Digital Connectivity in Indonesia
The Asian Infrastructure Investment Bank (AIIB) is ramping up its investment in digital infrastructure among its members, with a USD150-million nonsovereign loan to Satelit Nusantara Tiga (SNT) for a multi-functional satellite that will cover 45 million people.READ MORE