Sharp rise in AIIB’s investments

Source: Xinhua | 2018-06-25

INVESTMENTS in projects and funds by the Asian Infrastructure Investment Bank surpassed US$4.2 billion in 2017.

The figure was a sharp increase from US$1.7 billion of investments a year earlier as the bank funded 23 approved projects in transport, energy and telecommunication, up from 8 projects in 2016.

The bank’s net profit in 2017 was US$252 million, up from US$167 million a year earlier, a report said.

The bank’s annual report identified AIIB’s priorities as sustainable infrastructure, cross-border connectivity and private capital mobilization.

In 2017, total amount of private cofinancing by AIIB exceeded US$560 million, a sharp rise from US$5 million in 2016, the report said.

Asia’s infrastructure funding needs are estimated at US$1.7 trillion per year until 2030.