Beijing-Based AIIB Eyes $1 Billion Africa Projects
- Only 4% of $52 billion financing has been to Africa, bank says
- Africa issuers want AIIB guarantees for Samurai, Panda bonds
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The Asian Infrastructure Investment Bank plans to invest $1 billion in projects across Africa to boost connectivity and spur growth.
Funding for Africa by the Beijing-based supranational that’s challenging the global influence of more established peers such as the World Bank remains low. Only about 4% of the $52 billion it has financed since inception about eight years ago has gone to the continent, according to AIIB President Jin Liqun.