China’s AIIB leads support for Belt and Road infrastructure projects

(From China Daily)

The first batch of investments by the Asian Infrastructure Investment Bank will be announced on June 24 during its third board meeting, said the bank’s President Jin Liqun on Tuesday.

SILKROADCARAVANThese will include the bank’s solely financed projects, as well as those co-financed with the World Bank and the Asian Development Bank.

With authorized capital of $100 billion, the AIIB will invest in infrastructure, energy, transportation, urban construction, water supply and logistics as well as education, healthcare and environmental projects.

The World Bank said in a statement that the AIIB expects to approve about $1.2 billion in financing this year, with projects jointly financed by the World Bank accounting for a sizable share.

“The AIIB will also build branch offices responsible for raising capital in both international and regional financial centers such as London, New York and Frankfurt,” Jin said.

Meeting with global executives from 15 companies including Royal Philips NV and Schneider Electric SA, Jin said: “The Belt and Road Initiative serves as a road map for how China will further integrate itself into the global economy-bringing new opportunities and a new future to China and every country along these developing trading routes.” Read more

Categories: Asia Unhedged, Central Asia, China, South Asia, Southeast Asia

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