Business
18:09, 24-Jun-2018
AIIB investments top 4.2 billion USD in 2017: report
["china"]
Share
Copied
Investment in projects and funds by the Asian Infrastructure Investment Bank (AIIB) surpassed 4.2 billion US dollars in 2017.
The figure was a sharp increase from the 1.7 billion US dollars of investment a year earlier as the bank funded 23 approved projects in sectors including transport, energy and telecommunication, up from eight projects in 2016.
Net profit of the bank in 2017 came in at 252 million US dollars, up from 167 million US dollars a year earlier, according to the report.
The report identified the bank's thematic priorities as sustainable infrastructure, cross-border connectivity and private capital mobilization.
In 2017, the total amount of private co-financing by AIIB surpassed 560 million US dollars, a substantial increase from five million US dollars in 2016, according to the bank's annual report.
The report also highlights cooperation with other multilateral development banks to bridge the gap in infrastructure financing, with Asia's infrastructure funding needs estimated at 1.7 trillion US dollars per year until 2030.
AIIB membership grew to 84 last year from 57 in 2016. On May 2, the bank announced new members Papua New Guinea and Kenya, bringing its total approved membership to 86.
Source(s): Xinhua News Agency