Beijing, China, December 12, 2019

AIIB Makes First Investment in Russia With USD500-M Transport Project

The Asian Infrastructure Investment Bank (AIIB) has approved its first investment in the Russian Federation to improve transport connectivity and road safety in the country’s key economic corridors.

The USD500-million loan, which will be administered by the Ministry of Transport and Rosavtodor, the Federal Road Transport Agency, will be used to upgrade existing infrastructure and support road rehabilitation in several subprojects that align with national transport priorities. Selection of the subprojects will target vital economic nodes and border regions, thereby enhancing trunk linkages and cross-border connectivity. Upgrading the road network will increase safety, reduce travel time and allow for greater resilience to challenging climate conditions.

According to Global Infrastructure Hub estimates, Russia requires USD60 billion per year in the next five years for infrastructure. The projected spending of around USD40 billion leaves about a USD20-billion gap annually, with the transport sector having the largest shortfall.

 “Our investment in the Russian Federation is a welcome addition to AIIB’s growing portfolio in the transport sector across and beyond Asia,” said AIIB Vice President and Chief Investment Officer D.J Pandian. “As it is the Bank’s first financing in Russia, it also offers us a valuable opportunity to gain experience in the country for future collaboration on a number of potential infrastructure projects.”

The project aligns with AIIB’s priorities to invest in climate resilient infrastructure that improves economic outcomes and regional connectivity in and beyond Asia. The Bank will apply its procurement, environmental and social requirements to ensure implementation is conducted to high international standards.

The Russian Federation is the third largest shareholder in AIIB.

 

About AIIB

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.

Logos for Download

AIIB logo is available in JPEG and PDF format.

DOWNLOAD

Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

SEND AN EMAIL
More News Articles

Beijing, December 06, 2024

AIIB’s First Non-Sovereign-Backed Educational Infrastructure Project Boosts China’s YIST Campus

The Asian Infrastructure Investment Bank (AIIB) has signed a CNY574.728-million loan agreement to finance the expansion of the Yantai Institute of Science and Technology (YIST), a key vocational institution owned by China Education Group Holdings Limited aimed at strengthening vocational education and local workforce development.

READ MORE

Beijing, December 06, 2024

Marvin Taylor-Dormond Steps Down as Managing Director of AIIB’s Complaints-resolution, Evaluation and Integrity Unit

The Asian Infrastructure Investment Bank (AIIB) announces that Marvin Taylor-Dormond, Managing Director (MD) of the Complaints-resolution, Evaluation and Integrity Unit (CEIU), has tendered his resignation to pursue high political office in Costa Rica.

READ MORE

Beijing, November 29, 2024

USD400-Million AIIB Financing to Support Green Development of Hubei Global Air Cargo Logistics Project

The Asian Infrastructure Investment Bank (AIIB) has approved USD400 million in sovereign-backed financing to support the development of the Hubei Global Air Cargo Logistics Project. The initiative aims to establish a state-of-the-art bonded logistics park adjacent to the Hubei Ezhou Huahu International Airport, Asia’s first dedicated freight airport.

READ MORE

Beijing, November 25, 2024

AIIB, AFD Sign Cofinancing Framework Agreement  to Jointly Accelerate Sustainable Development

The Asian Infrastructure Investment Bank (AIIB) and the French Development Agency (Agence Française de Développement or AFD) have signed a strategic Co-Financing Framework Agreement at AIIB’s headquarters. It aims to deepen their collaboration in furtherance of common development objectives, promote sustainable development and advance climate-resilient infrastructure projects globally.

READ MORE