The Asian Infrastructure Investment Bank (AIIB) today launched an Energy, Food Security and Economic Resilience Facility to support members whose development may be affected by the conflict in the Middle East. Supplementing AIIB’s regular financing instruments, the facility offers a time-bound financing envelope of up to USD10 billion over two years, which provides exceptional financing support to its members and clients in addressing their acute needs for energy security, food security and economic resilience.
The facility financing will be provided in the form of fast-disbursing budgetary support, financing of critical expenditures and imports, and liquidity support to affected members and clients. Through those instruments, the facility may support the member’s response programs and economic resilience to address the fallout of the current conflict, as well as to support critical expenditures and imports. It may also offer liquidity financing to infrastructure companies or financial intermediaries to cover short-term working-capital, refinancing and business continuity needs of companies as impacted by the conflict.
AIIB will work closely together with peer multilateral development banks (MDBs), the IMF and other development partners to provide the financing support.
“This facility will enable members to address development impacts stemming from external shocks while strengthening long-term resilience,” AIIB President Zou Jiayi said. “While providing financing to address members’ critical short-term needs including access to energy and food, as well as sustaining their reform momentum, AIIB commits itself to continue strong engagement and support for our members’ efforts in infrastructure development, green transition and sustainable growth.”
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “Infrastructure for Tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 111 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
