Beijing, China, April 07, 2020
AIIB Approves Emergency Loan to Support China’s Public Health Infrastructure
In response to China’s emergency financing needs for public health infrastructure to manage the spread of COVID-19, the Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a sovereign-backed loan of RMB2,485 million (approximately USD355 million equivalent) as an adaptive way of upgrading the country’s sustainable public health infrastructure and providing emergency equipment and supplies.
The project, to be supported by AIIB’s first emergency assistance loan, aims to strengthen the public health emergency response capacity in the Chinese municipalities of Beijing and Chongqing. The outbreak of COVID-19 triggered China’s urgent financial need for support in strengthening its capacity in epidemic prevention and control. Cities with large floating populations like Beijing and Chongqing have particularly acute financial needs to address such challenges.
The loan will support the sustainable development of the two cities’ public health infrastructure, system and emergency response. These include upgrading their respective Centers for Disease Control and Prevention, enhancing the treatment capacity of medical institutions in dealing with epidemic emergencies and providing emergency equipment and supplies to frontline public health workers to help contain the outbreak of COVID-19.
“AIIB’s response underscores the importance of building resilient public health infrastructures and maintaining robust systems for members to effectively mitigate risks to their populations associated with outbreaks of communicable disease,” said AIIB Vice President, Investment Operations, Konstantin Limitovskiy.
“The emergency loan demonstrates AIIB’s agility in responding positively and effectively to its members’ needs during crises.”
With a population of 22 million, Beijing is the capital of China and AIIB’s host city. Chongqing is the regional center of the west of China with a population of more than 31 million. Improvements in the public health infrastructure of the two cities will help protect their populations in the future from other contagious diseases.
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 102 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.
More News Articles
Beijing, February 01, 2023
AIIB Launches Inaugural Euro Commercial Paper Program
The Asian Infrastructure Investment Bank (AIIB) is launching its inaugural USD5-billion multicurrency Euro Commercial Paper (AIIB ECP) program in February 2023. The program expands AIIB’s short-term funding options and demonstrates the Bank’s agility in meeting investors’ demand for sustainable investment through high-quality debt capital market issuance programs.READ MORE
Beijing, January 09, 2023
AIIB Welcomes Mauritania as New Prospective Member
The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved Mauritania’s application, raising the Bank’s approved membership to 106. Mauritania is now AIIB’s 55th nonregional member, 21 of which are from Africa.READ MORE
Beijing, December 30, 2022
AIIB Extends EUR250M to Support Egypt’s Green Public Transportation
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a EUR250-million loan to Egypt for the Alexandria-Abou Qir Metro Line Project. Aiming to increase access to efficient, safe and low-carbon public transportation in the city of Alexandria, the project will upgrade and electrify the existing Alexandria-Abou Qir line. Twenty metro stations along the 22-kilometer corridor will be modernized, 13 stations and 16 kilometers of which will be elevated.READ MORE
Beijing, December 12, 2022
AIIB Reinforces Commitment to Support Members’ Clean Energy Solutions
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved an update to the Bank’s Energy Sector Strategy on Nov. 22, 2022. Under the updated Energy Sector Strategy, AIIB will focus its energy investments on supporting its Members to achieve their long-term climate goals and net-zero/carbon neutrality commitments and to accelerate the just transition towards secure, affordable, and sustainable energy access for all.READ MORE