Sharp rise in AIIB鈥檚 investments
Print Edition
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.
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