Beijing, August 09, 2021

AIIB Supports Climate Adaptation, Disaster Resilience in Kerala, India

Vehicles plow through flooded roads in Thiruvalla, Kerala, India after being battered by torrential monsoon rains.

The Asian Infrastructure Investment Bank (AIIB) has approved USD125 million to help India’s state government of Kerala better prepare against natural disasters, the impact of climate change and the outbreak of disease and pandemics.

In recent years, Kerala has been battered by a series of natural disasters. In 2018, floods affected over 5.4 million people with financial losses estimated at USD3.74 billion. The state, like many others in India, has also been hit hard by COVID-19, placing further strain on an already fragile disaster management system.

An estimated 49.6 million people will benefit from the loan, part of a comprehensive USD530-million package cofinanced by the Government of Kerala, the World Bank Group’s International Bank for Reconstruction and Development and the French Development Agency.

Two key government programs will benefit from the financial injection—the Rebuild Kerala Development Program and the State Health Mission—both of which aim to improve state governments’ institutional resilience.

“Strengthening Kerala’s capacity to deal with the drivers of multiple shocks is crucial to resilient recovery,” said AIIB Director General Rajat Misra. “AIIB’s investment will help strengthen disaster preparedness across sectors to ensure a sustainable development pathway for the state and, ultimately, for India.”

The joint program will bolster local disaster resilience plans and improve water resource management in the flood-prone Pamba River Basin. The investment will also be channeled toward digital technology to improve surveillance and help Kerala better deal with and prepare for the outbreak of zoonotic disease and pandemics.

Misra noted that a key component of the program includes climate-resilient development in infrastructure sectors such as urban development, flood management and roads. He added that up to USD75 million of AIIB’s loan portion will contribute to climate adaptation.

 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 103 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

Logos for Download

AIIB logo is available in JPEG and PDF format.

DOWNLOAD

Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

SEND AN EMAIL
More News Articles

Beijing, November 07, 2023

AIIB Finances Second Wind Power Project in Southern Kazakhstan

The Asian Infrastructure Investment Bank (AIIB) has signed a USD36-million loan agreement for the development, construction and operation of a 100-megawatt (MW) wind power plant in the Zhambyl region of Southern Kazakhstan.

READ MORE

Beijing, China, November 06, 2023

Joint Statement on Sustainable Procurement Initiatives by the Heads of Procurement at Multilateral Development Banks

The Heads of Procurement (HoP) of the twelve Multilateral Development Banks (MDBs) in their recent meeting held in Manila, Philippines have pledged their commitment to promote sustainable procurement.

READ MORE

Beijing, October 27, 2023

Second Credit Rating Agency Roundtable

On the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group, Chief Financial and Risk Officers from all major multilateral development banks and other development financial institutions (jointly referred to as MDBs) convened with Credit Rating Agencies (CRAs) in Marrakech. This gathering reaffirms MDBs’ commitment to proactive engagement with CRAs and marks the second such meeting in 2023.

READ MORE

Beijing, October 25, 2023

AIIB, AfDB Guarantee Africa’s First Sustainable Panda Bond

The Asian Infrastructure Investment Bank (AIIB) and the African Development Bank (AfDB) have provided guarantees to support the issuance of Egypt’s first Sustainable Panda Bond at a value of RMB3.5 billion. This bond is the first issuance of an African sovereign in the Chinese interbank bond market, underscoring Egypt’s commitment to driving sustainable development.

READ MORE