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AIIB launches US$10 billion facility to help nations hit by Iran war fallout
The new facility will help nations deal with urgent energy, food and economic resilience needs, according to the bank
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Xiaofei Xuin Paris
The Asian Infrastructure Investment Bank (AIIB) has launched a US$10 billion facility to support members affected by conflict in the Middle East, the multilateral development lender announced on Thursday.
The Energy, Food Security and Economic Resilience Facility, sitting alongside the bank’s existing financing tools, offers up to US$10 billion over two years to help members tackle urgent needs around energy security, food security and economic resilience, according to a statement published by the Beijing-based bank.
“This facility will enable members to address development impacts stemming from external shocks while strengthening long-term resilience,” said AIIB President Zou Jiayi in the statement.
“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.”
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