Established in 2016, the Asian Infrastructure Investment Bank (AIIB) seeks to foster sustainable economic development, create wealth, and improve connectivity in Asia by investing in infrastructure and other productive sectors. It also aims to promote regional cooperation and partnership in addressing development challenges by closely collaborating with other multilateral and bilateral development institutions.
In 2022, the AIIB provided cofinancing to eight sovereign investment projects, including projects to support the development of a more responsive and comprehensive primary health care system in Sri Lanka through a $100 million loan, the expansion of the existing metro rail network in Chennai in India through a $356.7 million loan for its Corridor 4, and the Building Resilience with Active Countercyclical Expenditures (BRACE) Program in Pakistan through a $500 million loan. The BRACE program is a countercyclical support facility that aims to mitigate the adverse socioeconomic effects of economic crises and enhance the resilience of poor and vulnerable groups to socioeconomic shocks. It also provided nonsovereign cofinancing to an electric bus project in India.
News
ADB Approves Flagship Urban Development Project in Pakistan
ADB, with assistance from the Asian Infrastructure Investment Bank, supports the building of water supply treatment facilities and sewerage treatment facilities while repairing dysfunctional tube wells in five cities in the province. Once done, the project will benefit more than 3.5 million people.
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Tackling the Solid Waste Management Challenge in Maldives
ADB, together with partners Asian Infrastructure Investment Bank, Islamic Development Bank, and Japan Fund for the Joint Crediting Mechanism, is supporting the government’s efforts to do so by establishing a regional solid waste management facility equipped with waste-to-energy technology.
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