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. Türkiye 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, June 09, 2022
AIIB Approves EUR90M to Strengthen Vaccination and Healthcare Systems in Côte d’lvoire
The Asian Infrastructure Investment Bank (AIIB) Board of Directors has approved a EUR90 million (USD100 million equivalent) loan to support the Republic of Côte d’lvoire in strengthening its vaccination campaign and relevant healthcare systems.READ MORE
Beijing, May 12, 2022
AIIB, OPEC Fund Advance Partnership for Global Infrastructure Funding
The Asian Infrastructure Investment Bank (AIIB) and the OPEC Fund for International Development (the OPEC Fund) have signed a Memorandum of Understanding (MOU) to expand their operational and strategic cooperation to finance global public and private sector projects, promoting sustainable, resilient and high-standard infrastructure development.READ MORE
Beijing, May 11, 2022
AIIB Signs USD200M On-lending Facility to Support Sustainable Infrastructure Development in Bangladesh
The Asian Infrastructure Investment Bank (AIIB) and the Government of Bangladesh have signed a USD200-million on-lending facility to Infrastructure Development Co. Ltd (IDCOL) to finance infrastructure projects in Bangladesh, marking AIIB’s first investment through a financial institution into infrastructure in the country.READ MORE