AIIB approves $8.4b financing for various projects in 2024

The funding covered 51 projects, including those in energy.

The Asian Infrastructure Investment Bank (AIIB) has allocated $8.4b to 51 projects in 2024, spanning various industries including energy.

In a statement, AIIB said projects in water, transport, sustainable cities, digital and social infrastructure were also funded last year. These are expected to avoid 28.5 million tonnes of carbon dioxide equivalent emissions annually, provide 8.71 million people with access to safe drinking water, and improve transport access to at least 410 million beneficiaries.

The energy projects include solar energy systems.

“In 2024, AIIB executed one of its largest annual borrowing programs to date, raising nearly USD10 billion and increasing total outstanding bonds to USD34 billion,” said AIIB Treasurer Domenico Nardelli. “This reflects continued investor confidence in AIIB’s governance, credit strength and sustainability framework.”

AIIB has approved over $60b in financing since commencing operations in 2016.