| Project Detail |
The Project seeks to advance private capital mobilization through anchoring the infrastructure asset-backed securities (IABS) issued by Bayfront Infrastructure Management (BIM) over the next 3 years and to help BIM achieve its interim climate transition goals as part of its 2050 Net Zero Ambition.
DESCRIPTION
The Project will mobilize private capital into emerging market infrastructure through supporting the continued development of the IABS market in Asia with a focus on sustainable assets. This will be achieved through an investment of up to USD350 million (the Investment Program or Program) into issuances of Sustainability Tranches of IABS sponsored by the BIM. The Investment Program covers issuances of IABS Sustainability Tranches by BIM until end 2026.
Prior to commitment of any investments under the program, the satisfactory review of the commercial and financial aspects of the respective IABS issuance, the proposed allocation strategy and progress on agreed interim objectives shall be confirmed. Subsequent IABS investments under the Investment Program will be at the discretion of AIIB, subject to AIIB Investment Committee and President Approval. Within the review of each of these subsequent investments, confirmatory Paris Alignment assessment and Policy Assurance will be conducted.
Established in 2019, BIM is the first platform dedicated to the purchase, securitization, and distribution of infrastructure loans in Asia. Shareholding is held 70 percent by Clifford Capital (indirect controlling shareholder is Temasek) and 30 percent by AIIB. |
