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AIIB approves 600 mln USD loan for Azerbaijan

Xinhua, December 22, 2016 Adjust font size:

The Asian Infrastructure Investment Bank (AIIB) has approved a loan of 600 million U.S. dollars, its largest so far, to finance an energy project in Azerbaijan.

The decision was made by the AIIB's Board of Directors on Wednesday, the bank announced Thursday.

The bank approved its first four loans, totalling 509 million dollars, in June. Three of the four loans are co-financing projects with multilateral development bank partners.

The AIIB, a China-initiated multilateral bank, was founded on Dec. 25, 2015. Endi