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Established in 2016, the Asian Infrastructure Investment Bank seeks to foster sustainable economic development, create wealth, and improve connectivity in Asia by investing in infrastructure and other productive sectors. It also aims to promote regional cooperation and partnership in addressing development challenges by closely collaborating with other multilateral and bilateral development institutions.
3 December 2024
ADB approved two projects with $173 million in loans and grants to accelerate climate-adaptive water resources management in Cambodia.
19 November 2024
ADB approved a $250 million policy-based loan to support the Government of Uzbekistan’s efforts to strengthen institutional frameworks for climate transition, enhance links and interaction of climate change adaptation priorities, and accelerate climate change mitigation actions.
ADB, with cofinancing from the Asian Infrastructure Investment Bank, is boosting the Mongolian government’s efforts to help poor and vulnerable people grapple with the impacts of rising food and fuel prices through the Weathering Exogenous Shocks Program.
ADB, together with the Asian Infrastructure Investment Bank, Islamic Development Bank, and Japan Fund for the Joint Crediting Mechanism, is supporting the government’s efforts to do so by establishing a regional solid waste management facility equipped with waste-to-energy technology.
Through the support of ADB, the Asian Infrastructure Investment Bank and the Government of New Zealand, the country is boosting its economy by reopening its borders, improving its COVID-19 responses, and implementing policy reforms that will improve fiscal management.
The Monsoon Wind Power Company is building a wind power plant in the Lao People’s Democratic Republic. ADB, multilateral organizations, and private sector partners are cofinancing what is poised to become Southeast Asia’s largest wind power facility.
The COVID-19 pandemic sparked a sharp economic downturn and rapid rise in unemployment in Bangladesh. To assist the government, ADB committed more than $2.6 billion to manage the immediate economic, social, and health-related impacts of the pandemic.
ADB is helping the Philippines purchase safe and effective vaccines to ramp up its national COVID-19 immunization program through a $400 million loan.
ADB and the Asian Infrastructure Investment Bank collaborated on several knowledge products and/or events including the following:
Chief financial officers and chief risk officers from major multilateral development banks and other development finance institutions convened with the three major credit rating agencies (CRAs) to continue their dialogue on updating the rating criteria of CRAs.
Multilateral development banks remain firmly committed to support ambitious climate action: assisting clients with flexible, targeted approaches that also drive sustainable economic growth and development, generate jobs, address catastrophic biodiversity loss and pollution, and enhance social inclusivity and resilience.
The Asian Infrastructure Investment Bank contributes to ADB’s development initiatives through cofinancing.
In November 2024, the Asian Infrastructure Investment Bank (AIIB) and ADB renewed their memorandum of understanding to explore opportunities for cooperation in addressing Asia’s most pressing development challenges. The renewal outlines a collaborative framework to enhance regional resilience and commitment to sustainable infrastructure development, aligned with the strategic priorities of both institutions.
In October 2023, ADB and the AIIB signed the new cofinancing framework agreement (CFA) for 2023–2028, which is an update of the first CFA signed in 2019. This reflects the evolving relationship between ADB and the AIIB and further sets out the framework for the cofinancing of future development projects and programs and the exchange of information.
Sovereign Cofinancing. As of 31 December 2024, the Asian Infrastructure Investment Bank committed $943.7 million in loan cofinancing and $3.5 million in grant cofinancing. This includes $350 million to help Kazakhstan address macroeconomic and financial vulnerabilities; $250 million to strengthen institutional frameworks for climate transition and enhance climate change adaptation and mitigation in Uzbekistan; and $188.2 million for the construction of a climate-resilient 37.5-kilometer expressway along the Philippines that will improve regional connectivity. Cambodia received $80 million in loans and $3.5 million in grant commitments to accelerate climate-adaptive water resources management.
