Beijing, China, December 18, 2019
AIIB Commits USD82 Million for Community Infrastructure in Rural Uzbekistan
The Asian Infrastructure Investment Bank (AIIB) has committed USD82 million to improve the quality of basic infrastructure in hundreds of rural villages in eastern Uzbekistan, the Bank’s first project in the country.
The Prosperous Villages Project, cofinanced with the World Bank, will be a community-driven project with two key components, the first of which focuses on investing in basic infrastructure and services. These infrastructure investments will be prioritized and selected by local authorities and community members themselves. Investments will include access to water supply for drinking and irrigation, sanitation services, rural electrification and the rehabilitation of roads and footpaths, among others.
Additionally, Uzbekistan’s Ministry of Economy and Industry and local authorities will also see its project oversight capacity strengthened as funding will be used to ensure monitoring and evaluation, beneficiary assessments, project audits and a project-level grievance redress mechanism.
“We like this project because it actively engages communities in matters that have a direct impact on their day-to-day lives,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “Effective community participation in the decision-making process is key in making community infrastructure sustainable.”
This is AIIB’s first investment in Uzbekistan, with the Bank considering financing additional projects to further contribute to the Central Asian country’s infrastructure development.
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, August 14, 2020
AIIB Approves USD50-Million Loan to Fiji for COVID-19 Response
To help the Republic of Fiji cope with the impact of the COVID-19 pandemic, the Asian Infrastructure Investment Bank (AIIB) has approved a USD50-million loan to support the government’s efforts to provide assistance to the formal sector, including small and medium enterprises and their employees, and members of the informal sector, including women microenterpreneurs, such as hawkersREAD MORE
Beijing, China, July 28, 2020
AIIB to Hold its First Annual Meeting in the Middle East in the UAE
The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) announced that its sixth Annual Meeting will be held in Dubai, United Arab Emirates (UAE) on Oct. 27-28, 2021.READ MORE