Beijing, China, April 17, 2020
AIIB Doubles COVID-19 Crisis Response to USD10 Billion
The Asian Infrastructure Investment Bank (AIIB) is doubling available funds under its COVID-19 Crisis Recovery Facility to provide USD5-10 billion due to high client demand. This follows AIIB’s announcement to make USD5 billion available to help public and private sector clients manage through the COVID-19 pandemic.
Requests for funding have substantially exceeded the USD5 billion originally allocated for emergency relief. Based on client feedback, immediate assistance is required in three key areas: (1) to help alleviate health care pressures in the form of health infrastructure and pandemic preparedness; (2) liquidity support through on-lending facilities and credit lines via financial institutions to address working capital and liquidity shortages and (3) immediate fiscal and budgetary support, in partnership with other multilateral development banks, so governments can focus on addressing the human and financial impacts of COVID-19.
“We are facing a formidable challenge, with the depth and severity of the crisis growing with each passing day,” said AIIB President and Chair of the Board Jin Liqun. “It was imperative that we respond to the urgent and extraordinary scale of demand from our members to significantly increase the scope of our response.”
AIIB is working closely with other international financial institutions to create a network of support options, especially for the most vulnerable economies. To support a rapid and flexible response to the crisis, the Bank’s Board of Directors has also approved a range of measures to make it easier for AIIB to seamlessly partner with other development banks.
“An adaptive, multilateral approach will be necessary to effectively help countries around the world successfully navigate the health and economic costs of recovery,” said President Jin.
AIIB is currently reviewing projects from several of its members, many in collaboration with other multilateral development banks. Examples include a USD500-million project in India to purchase equipment and detection capacity and strengthen its national health systems. Turkey has sub-mitted a request for a USD500-million credit line for two of its development banks to help alleviate working capital shortages and liquidity constraints as a result of the pandemic. Indonesia is requesting USD250 million to strengthen hospital readiness, enhance pandemic preparedness and strengthen testing.
A USD355-million emergency health project for China was approved by AIIB’s Board of Directors on Apr. 3, 2020.
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.
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