Fri, 26 Feb 2021

Backgrounder: Figures about AIIB's 5 years' growth

16 Jan 2021, 15:05 GMT+10

BEIJING, Jan. 16 (Xinhua) -- Saturday marks the fifth anniversary of the Asian Infrastructure Investment Bank (AIIB), a multilateral development bank with a mission to enhance social and economic progress in Asia.

Five years on, the Beijing-headquartered development institution has grown from 57 founding members to over 100 approved members in six continents.

It has maintained the highest credit rating with a stable outlook from the largest credit rating agencies, including Standard & Poor's, Moody's and Fitch.

To date, the bank has provided over 22 billion U.S. dollars in infrastructure investment for its members and approved 108 projects.

To support the global fight against the COVID-19 pandemic, the AIIB set up a COVID-19 Crisis Recovery Facility to support AIIB members and clients in mitigating economic, financial and public health pressures brought about by the pandemic.

The facility was boosted to 10 billion dollars in April 2020 and later expanded to 13 billion dollars, which is expected to offer to both public and private sector entities in members between April 2020 and October 2021.

So far, the facility has approved loans of over 7 billion dollars to countries, including Uzbekistan, Bangladesh, Kazakhstan and Maldives.

In June 2020, the AIIB launched 3 billion yuan (about 428.57 million U.S. dollars) of panda bonds in China's interbank bond market, the first time the multilateral organization enters the market. It is the first Triple-A internationally rated issuer to have entered this market since the release in 2018 of the new panda bond guidelines governing international issuers.

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