China’s AIIB looks to finance infra projects worth $10-12b annually

Photo: AIIB website

The Asian Infrastructure Investment Bank (AIIB) aims to finance infrastructure projects worth $10-12 billion annually over the coming years, and will maintain a prudent approach in investing in such deals, the bank’s vice president of policy and strategy said.

The AIIB has 97 members and was launched in January 2016 to help meet Asia’s infrastructure needs. Since starting its operations, it has financed some $8 billion in projects, mostly in Asia.

“We are gradually growing our investment, and that’s very little compared to the infrastructure finance needs,” Joachim von Amsberg told reporters on the sidelines of the World Economic Forum in the northeastern port city of Dalian.

“It’s more important that we start with very high quality projects that really meet environmental and social standards and avoid corruption, rather than building up our investment as quickly as possible. So quality comes before quantity.”

The AIIB aims to finance projects worth about $4 billion this year, about 20 percent more than the $3.3 billion it financed in 2018, the bank has said.

Von Amsberg said that the AIIB has been trying to avoid exacerbating debt risks in countries where it invests but still sees great potentials in Asia.

“We are very careful about investing in countries that face possible risks of debt distress. We are well aware how hurtful that distress can be for countries,” he said.

China’s Belt and Road programme has stoked foreign criticism that its opaque financing could lead to unsustainable debt and that it aims more to promote Chinese influence than development.

The China-U.S. trade war is having little impact on the AIIB, which still welcomes the United States to join the bank as one of its new members, von Amsberg added.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.