China infrastructure bank gets Aaa-okay - China’s latest business and technology news - SupChina

China infrastructure bank gets Aaa-okay – China’s latest business and technology news


The China-backed Asian Infrastructure Development Bank (AIIB), crucial to the rollout of Belt and Road infrastructure projects, is “a step closer to issuing its first bonds” this week, Caixin reports. Moody’s Investors Service became on June 29 the first international credit ratings firm to give the AIIB an Aaa rating, the “the same level as the World Bank and the Asian Development Bank (ADB), and reflecting its view that the AIIB’s debt would be of the highest quality and carry minimal risk,” Caixin says.

The bank, which opened for business in January 2016 with $100 billion in capital, has been ambitious in its operations even as it awaits formal credit ratings approval. Caixin compares the AIIB with the European Bank for Reconstruction and Development (EBRD), noting that while that bank waited two years after establishment to make its first loan, the AIIB has already “given the go-ahead to 16 projects involving $2.5 billion in loans and equity investment.”


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Lucas Niewenhuis

Lucas Niewenhuis is an associate editor at SupChina who helps curate daily news and produce the company's newsletter, app, and website content. Previously, Lucas researched China-Africa relations at the Social Science Research Council and interned at the Council on Foreign Relations in New York. He has studied Chinese language and culture in Shanghai and Beijing, and is a graduate of the University of Michigan.

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