Beijing, China, April 03, 2020
AIIB Looks to Launch USD5 Billion COVID-19 Crisis Recovery Facility
The Asian Infrastructure Investment Bank (AIIB) is proposing to its Board of Directors to create a crisis recovery facility in response to urgent economic, financial and public health pressures and to support a quick recovery after the current crisis. A new Crisis Recovery Facility will offer an initial USD5 billion of financing to both public and private sector entities facing serious adverse impacts as a result of the pandemic. It is part of the coordinated international response to counter COVID 19 crisis, as per the Extraordinary G20 Leaders’ Summit.
The facility is designed to be flexible and adaptive to emerging demands. It will offer dedicated financing for the next 18 months for qualifying projects within its membership. The size of the facility could be increased depending on client demand. AIIB is also exploring how it can use its Project Preparation Special Fund to help its members, especially low-income members, whose economies are being particularly impacted by COVID-19.
AIIB President and Chair of the Board, Jin Liqun, said: “A well-managed and robust development institution must be nimble enough to deal with external shocks and responsive enough to adapt to the changing needs of its clients while also adhering to our mission of promoting economic and social development in Asia.”
He continued, “The international community needs to come together to pool our resources to help the world navigate the current pandemic and economic upheaval. AIIB is committed to playing its full part.”
The facility could support emergency public health needs, such as health infrastructure for emergency preparedness and clients whose infrastructure investments are severely impacted by the pandemic. It could also provide the financing needed to preserve the productive capacity of other productive sectors, including manufacturing, that have been hit by COVID-19.
Continues President Jin, “AIIB will do its part to rapidly respond to the financing needs of its members and clients in close partnership with other international development institutions. I believe this new facility will help our clients to overcome immediate financial pressures and maintain critical long-term investments that otherwise may not be possible.”
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, September 28, 2022
AIIB Newly-Launched Impact Report Tracks the Bank’s Contributions to Green Infrastructure and Sustainable Development Goals
The Asian Infrastructure Investment Bank (AIIB) has launched its second Sustainable Development Bonds Impact Report, which illustrates how the proceeds from AIIB’s bonds are used to realize AIIB’s mission to finance Infrastructure for Tomorrow.READ MORE
Beijing, September 14, 2022
AIIB Extends USD50-M to Support Fiji’s COVID-19 Recovery
The Asian Infrastructure Investment Bank (AIIB) Board of Directors has approved a USD50-million loan under AIIB’s COVID-19 Recovery Facility (CRF) to help the Government of Fiji restore fiscal sustainability and promote inclusive climate-resilient economic growth amid the ongoing spread and impact of COVID-19.READ MORE