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Asian Infrastructure Investment Bank approves $60 million loan for Tajikistan Nurek hydropower rehabilitation
Central Asia | business | 10:35, 17 June 2017 | 2191

AKIPRESS.COM - Board of Directors of the Asian Infrastructure Investment Bank (AIIB) approved two loans and one equity investment totaling US$324 million to support infrastructure projects in India, Georgia and Tajikistan, AIIB said in a statement.

These approvals include the Bank’s first equity investment of US$150 million, which will help to attract much needed private investment capital for infrastructure projects in India. Catalyzing private capital is broadly acknowledged as a critical component to addressing the infrastructure gap in Asia. These investments align with the Bank’s priorities to support sustainable infrastructure, improve cross-border connectivity and mobilize private capital.

"Approving our first equity investment is another milestone for the Bank and will enhance our potential to source and fund high quality, private sector projects," said D.J. Pandian, Vice President and Chief Investment Officer, AIIB. These three projects demonstrate a growing sophistication in our ability to support our member countries across different regions and sectors.

Project details are as follows:

  • US$150 million equity investment to the India Infrastructure Fund. The Fund aims to invest in mid-cap infrastructure companies in India, and to expand the Bank’s equity and loan deal sourcing pipelines in the private sector through its equity participation in this Fund. This initiative will benefit local infrastructure development by enhancing private capital inflows from global long-term investors, such as public pension funds, endowments and insurance companies. Additional details about the Fund can be found here.
  • US$114 million loan for the Georgia Batumi Bypass Road Project, which is the Bank’s first loan to Georgia, co-financed with the Asian Development Bank. The project aims to improve regional connectivity and efficiency of road transport along the East–West Highway in Georgia. The project will construct a new, two lane road approximately 14.3 km long, in a key section of the East–West Highway that skirts the port city of Batumi. Additional project details can be found here.
  • US$60 million loan for the Tajikistan Nurek Hydropower Rehabilitation Project Phase I, co-financed with the World Bank (IDA Credits and Grants). The project aims to rehabilitate and restore the generating capacity of three units of the Nurek hydropower plant, improve their efficiency and strengthen the safety of Nurek dam operations.
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