BAKU, Azerbaijan, October 30. The Asian Infrastructure Investment Bank (AIIB) signed cooperation agreements with Maybank, CIMB, AmBank, and BPMB to come together and raise the bar with up to $6 billion in funding for sustainable and tech-savvy infrastructure projects throughout ASEAN, Trend reports via AIIB.
The agreements, concluded following the ASEAN Summit in Kuala Lumpur, aim to advance green and inclusive infrastructure, strengthen regional connectivity, and attract private capital for the region’s growing development needs.
Under the new partnerships, AIIB and its Malaysian counterparts will support projects in renewable energy, power transmission, transport, digital infrastructure, and telecommunications. The initiative combines the banks’ regional experience in managing large-scale assets with AIIB’s long-term financing capacity.
AIIB’s Chief Investment Officer, Kim-See Lim, emphasized that the agreements reflect a shared commitment to financing “infrastructure that is green, technology-enabled, and regionally connected.” The Malaysian partners highlighted the collaboration’s potential to drive digitalization, energy transition, and climate resilience through projects such as the ASEAN Power Grid.
The collaboration also plays a pivotal role in pushing the envelope on regional initiatives like the ASEAN Power Grid, with AIIB gearing up to invest as much as $2 billion through its Multiphase Programmatic Approach.
The accords, effective through October 2031, are in sync with AIIB’s strategic imperatives—eco-friendly infrastructure, enhanced connectivity, innovation-led advancement, and the mobilization of private capital—bolstering the institution’s mandate in promoting sustainable and inclusive growth throughout Southeast Asia.
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