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 hawkers.

Funding for Fiji is part of the Sustained Private Sector-Led Growth Reform Program cofinanced by the Asian Development Bank (ADB). The governments of Australia and New Zealand are also providing supplemental grant funding to Fiji.

“It is incumbent upon us to make sure the most vulnerable people have the tools they need to weather the effects of this public health challenge. AIIB is providing support to the Republic of Fiji to strengthen the country’s containment and treatment measures, and fiscal stimulus to help soften the effects of the COVID-19 pandemic,” said AIIB Vice President, Investment Operations, D.J. Pandian.

The loan—AIIB’s first project financing in Fiji—is expected to contribute to the government’s 2020-2021 budget, which includes spending on COVID-19 crisis measures with a particular focus on social and economic protection.

Besides the severe ramifications for public health and safety, the COVID-19 pandemic resulted in major disruptions to Fiji’s supply chains, trade flows and public finance, further affecting a domestic economy heavily dependent on the tourism industry. In addition, Fiji had to deal with the impact of Cyclone Harold in April 2020, which caused damages estimated at around USD46.4 million and affected more than 20 percent of the population.

The loan is part of AIIB’s COVID-19 Crisis Recovery Facility (CRF), which provides up to USD13 billion of financing to both public and private-sector entities facing serious adverse impacts as a result of the pandemic. As of August 13, 2020, AIIB’s Board of Directors has approved a total of 19 projects under the CRF, amounting to over USD6.16 billion to support 15 members in navigating the challenges of these highly uncertain times. AIIB is reviewing additional projects from its clients.

Additional information about the Fiji Sustained Private Sector-Led Growth Reform Program can be found here

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 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.

Logos for Download

Our logo is available in JPEG and PDF format.


Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683


More News Articles

Beijing, May 30, 2023

AIIB Supports Multilateral Transport Initiative for Improved Transport Data

The Asian Infrastructure Investment Bank (AIIB) is engaging with the Asian Transport Outlook (ATO) initiative to strengthen the knowledge base on transport in the Asia-Pacific region.


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.


Beijing, 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.


Beijing/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).


Home Media Center AIIB News AIIB Approves USD50-Million Loan to Fiji for COVID-19 Response