China-led AIIB lends out $2 billion in loans

The amount of loans approved by the Asian Infrastructure Investment Bank (AIIB) hit two billion US dollars on Tuesday.

AIIB approved three new applications worth 285 million US dollars on March 28.

The three included two co-financing programs with the World Bank--a loan of 125 million US dollars for Indonesia’s dam improvement project to improve the local abilities to cope with climate change, and a loan of 100 million US dollars for Indonesia’s regional infrastructure development fund project. AIIB also approved a plan to provide Bangladesh with loans worth 60 million US dollars to the country's Natural Gas Infrastructure and Efficiency Improvement Project to address the country’s gas supply deficit.

Infographics by CGTN's Wang Mingyan and Yu Peng

AIIB is a new multilateral financial institution initiated by China in 2013, and opened for business on January 16, 2016.

AIIB focuses on finance for sound and sustainable projects in energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics.