AIIB outlines 5 core areas for investment
The China-led Asian Infrastructure Investment Bank will invest in five major areas during its initial stages - energy, transportation, rural development, urban development and logistics - a top official said on Thursday.
The bank will later expand the investment to other areas such as education and healthcare to promote social development, said Chen Huan, chief officer of the Multilateral Interim Secretariat of AIIB, during the 6th China-South Korea Banking Development Forum in Shanghai.
The scale of project investment and bond issuance will not be huge at first. The bank is planning to issue bonds worth $100 million to $500 million in the first year of operation and is still waiting for approval by the board of directors. It is likely to issue nonrated bonds at the beginning.
