AIIB: Focusing More on ASEAN Infrastructure Development
China Report Asean, March 5, 2017 Adjust font size:
By Wang Jiping
On March 2 2017, Joachim von Amsberg, vice president of the Asian Infrastructure Investment Bank (AIIB), said that AIIB will continue supporting ASEAN countries like Myanmar to investment in the development of their infrastructure.
In a joint interview by China Report, CIPG and reporters from Myanmar mainstream media including MRTV in Beijing, Joachim von Amsberg said: “Many ASEAN countries face infrastructure bottlenecks that have constrained growth, thus AIIB will support them in this field.” However, von Amsberg also highlighted that related planning and co-ordination work should be carried out by member countries themselves.
Founded on December 25 2015, AIIB is a new multilateral financial institution to bring countries together to address the daunting infrastructure challenges facing Asian countries. By furthering interconnectivity and economic development in the region through advancements in infrastructure and other productive sectors, AIIB aims to help stimulate growth and improve access to basic services.
AIIB has already approved a loan of $216.5 million, for the National Slum Upgrading Project in Indonesia, on June 24 2016. The Project is co-financed by the World Bank, which is also contributing $216.5 million. Now it is considering providing US$20 million of debt financing for the development, construction, and operation of a Greenfield 225 MW Combined Cycle Gas Turbine (CCGT) power plant in the Mandalay region of Myanmar.
