ABII approve first loans until the end of 2016

ABII approve first loans until the end of 2016


Asian infrastructure investment Bank is open for co-financing projects with other partners, if they follow the same standards as the AIIB, said the head of the Bank Jin Liqun.

BEIJING, 17 Dec –, Zhanna Manukyan. Asian infrastructure investment Bank (AIIB) plans to approve the first loans by the end of this year, said Sunday the President ABII Jin Liqun.

“We are preparing a number of projects. We plan to approve the first loans by the end of this year, said at the press conference Jin Liqun. — Now I can’t give you detailed information as to how many projects will be in the first batch, how many projects will be co-financing with various financial institutions. We are absolutely open to co-financing projects with other partners. One thing for sure that we work only with those who will follow the same standards as we do”.

He underlined that for Bank it is extremely important to solve complex infrastructure problems that exist in Asia because “good infrastructure is the Foundation for economic growth and the key to poverty reduction”.

In addition, the Bank’s President reported that the South Korean government will also allocate additional funds for infrastructure project preparation in less developed countries participating in the AIIB. The amount that is going to define for this purpose a Seoul, he never called.

“We understand that some countries need assistance in the preparation, therefore, the special funds will be very useful for these countries… I am happy to report that the South Korean government will also provide financial assistance for these purposes,” said Jin Liqun.

On Saturday Chinese President XI Jinping announced that China will provide an additional $ 50 million to create a special Fund that will deal with infrastructure projects in the less developed member countries of the Asian Bank of infrastructure investments.